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Tencent leads $60 billion loss as game crackdown grows

A moratorium on new titles would mark an escalation in the gaming crackdown, hitting developers' wallets directly. It recalls a 10-month freeze on game monetization licenses in 2018, then intended to combat addiction and myopia among children. That spurred Tencent's first profit drop in at least a decade and helped wipe about $200 billion off its market value at one point. Foto: AP/TopPhoto

Tencent Holdings and Netease shed more than $60 billion of value as investor fears grow that Chinese regulators are preparing to tighten their grip dramatically on the world's largest gaming industry.

Chinese regulators summoned industry executives to a Wednesday meeting to instruct them to break their "solitary focus" on profit and prevent minors from becoming addicted to games, according to the official Xinhua News Agency...

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