Understanding the Market | Why are gaming stocks plummeting during trading hours?
Game stocks plummeted during trading. As of the time of writing, TENCENT fell 5.05% to HKD 296.8; CMGE fell 4.2% to HKD 1.37; IGG fell 3.47% to HKD 3.06. On the news front, the National Press and Publication Administration released the "Draft Measures for the Administration of Online Games," which mentioned restrictions on excessive use and high consumption of games. Online games are not allowed to set inducement rewards such as daily login, first-time recharge, and consecutive recharge. When providing random draw services, online game publishing and operating units should make reasonable settings for the number of draws and probabilities. Online game live streaming should not involve minors giving rewards.
Zhitong App learned that gaming stocks plummeted during trading hours. As of the time of writing, TENCENT (00700) fell by 5.05% to HKD 296.8, CMGE (00302) fell by 4.2% to HKD 1.37, and IGG (00799) fell by 3.47% to HKD 3.06.
In terms of news, the National Press and Publication Administration released the "Draft Measures for the Administration of Online Games" which mentioned restrictions on excessive use and high consumption of games. Online games are not allowed to set inducement rewards such as daily login rewards, first-time recharge rewards, and consecutive recharge rewards. Online game publishing and operating units should make reasonable settings for the number of draws and probabilities when providing random draw services. Live streaming of online games should not involve minors giving rewards.