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- Tencent stock fell 10% on Tuesday after a Chinese news outlet slammed online gaming for its negative impact on children.
- The report, linked to China’s official press agency, referred to gaming as “spiritual opium” and “electronic drugs.”
- This has added to heightened investor concerns over China’s regulatory campaign.
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Tencent Holdings fell as much as 10% on Tuesday after a Chinese state-run media outlet called online gaming was “spiritual opium” and “electronic drugs,” raising concerns that the government may next target the online entertainment industry as part of its ongoing regulatory crackdown.