FT perspective: China urges “end of profit” in gaming; Tencent shares take another hit

"Beijing warns tech companies over ‘erroneous tendencies’ in latest assault on sector," writes the Financial Times.
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Of more direct interest for South Africans is further ratcheting up of Chinese president Xi's assault on Tencent, whose fortunes determine the value of SA's dominant equities Naspers and Prosus. Optimists who hoped Xi would start playing nice, have received yet another rude awakening. Now Tencent's gaming business (a third of the revenues) faces an existential risk. The FT's piece republished below lays out the facts. Click here for the WSJ's report on the subject. – Jarryd Neves

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