Tencent Shares Fall After Chinese Regulators Block Sales of “Monster Hunter”
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Tencent shares fell more than 3% last Tuesday after it was announced that the tech giant will not be able to sell a hugely popular game called “Monster Hunter: World” on its WeGame distribution platform.
Chinese regulators reportedly banned the game for not meeting regulatory requirements. However, a source close to the matter said that the removal was due to bureaucratic infighting with the country’s new regulator.
The tech giant’s gaming business has become a significant source of revenue, with titles like “Honor of Kings” boosting smartphone gaming revenues up by as much as 68%.
Source: CNBC