Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

NetEase Plunges as China Caps Hours For Minors Playing Online Games

Published 08/30/2021, 06:03 AM
Updated 08/30/2021, 06:05 AM
© Reuters

By Dhirendra Tripathi

Investing.com -- NetEase stock (NASDAQ:NTES) slumped 7% in Monday’s premarket trading after Chinese regulators announced new rules limiting the amount of time players under the age of 18 can spend playing games online amid mounting concerns over the impact of gaming on children.

Users under 18 will be limited to an hour of gameplay on Fridays, weekends and holidays, state news agency Xinhua reported.

Online gaming companies will be barred from providing gaming services to minors outside those hours and will have to implement measures to enforce the new rules.

In 2019, China introduced rules that barred minors from playing online games between 10 p.m. and 8 a.m. and restricted the amount of time they could play.

Stricter rules governing the use of online gaming by children had been expected since a state media report, early this month, called online gaming ‘opium for the mind’.

The new rules come amid a broad based crackdown by Beijing on China's tech giants, including Alibaba (NYSE:BABA) and Tencent, which has spooked investors.

Latest comments

that will end up weaning kids off from games and find another outlets
yup. like play marble, skipping rope, playing police and thief, musical chair etc. 🤭
yup. like play marble, skipping rope, playing police and thief, musical chair etc. 🤭
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.