Investing.com - Shares in the Hong Kong-listed Tencent Holdings Ltd (HK:0700) rose 2.3% on Monday in Asia after the company's online game, adventure-themed Xun Xian, received a license for monetization from China's broadcasting regulator.
Following the latest batch of licenses, China has now approved 726 video games since December after an almost year-long approval hiatus amid growing criticism of games for being violent and addictive for young people in the country.
Shares in gaming companies, including Tencent, were dragged down and saw billions of dollars wiped off their market value before Beijing resumed the game approval process late last year.
Last week, Tencent’s shares rose to an eight-month high following reports that the gaming titan is placing a bid for the holding company that controls South Korean gaming company Nexon.
Tencent is among the five shortlisted bidders, together with South Korea’s biggest chat operator Kakao Corp and three private equity firms, Reuters reported last Tuesday.