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Tencent vows fresh video game curbs after media attack knocks shares
By Brenda Goh and Samuel Shen
Reuters
SHANGHAI (Reuters) -China s Tencent Holdings Ltd said on Tuesday it would curb minors access to its flagship video game, hours after its shares were battered by a state media article that described online games as spiritual opium.
Economic Information Daily cited Tencent s Honor of Kings in an article in which it said minors were addicted to online games and called for more curbs on the industry. The outlet is affiliated with China s biggest state-run news agency, Xinhua.
China s largest social media and video game firm saw its stock tumble more than 10% in early trade, wiping almost $60 billion from its market capitalisation. The stock was on track to fall the most in a decade before trimming losses after the article vanished from the outlet s website and WeChat account.
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