Interesting article on gaming regulation in China from the FT (paywall).
Tencent shed $15.1bn in market value on Tuesday after the Chinese technology group started limiting the time children spend on its number one game.
Honour of Kings is the top-grossing mobile game, generating revenues of about Rmb6bn ($876m) for Tencent in the first quarter of this year, according to estimates by analysts, who say more than 50m people play the game daily.
The time limits follow criticism from authorities and the public that the hit game is too addictive and have raised fears among investors that the company is in Beijings sights.
Two weeks ago a 17-year-old boy in Guangzhou suffered a stroke after playing nonstop for 40 hours. Last week state media reported a 13-year-old boy in Hangzhou had broken his legs jumping from a third-floor window after his parents stopped him from playing.
Under-12s are now limited to an hour of Honour of Kings a day and cannot play after 9pm, according to the post, while those between 12 and 18 are limited to two hours a day.
The companys shares closed down 4.13 per cent at HK$269.20 in Hong Kong on Tuesday, their biggest fall in 23 months.