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03.09.2020

Tencent stocks disappointed by India’s steps

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Following the news from India, Tencent stocks shed over 2% on Thursday

Stocks impacted: Tencent (0700)

Tencent shares fell more than 2% after India banned 118 mobile apps, including the firm's popular video game PUBG, as tensions between China and India rise again over the disputed Himalayan mountain border in the region of Ladakh. The decision to bar Tencent's PUBG could be especially painful for the Chinese gaming and social media powerhouse as it was the top mobile game by monthly active users in India last year. Tencent did not immediately respond to requests for comment on this story while China’s commerce ministry said today it strongly opposed India banning Chinese mobile apps as these actions violate the legal interests of Chinese investors and service providers. The officials also asked India to correct its mistakes. Following the news from India, Tencent stocks shed over 2% on Thursday.

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