The controversial draft of Chinese gaming curb was removed from the National Press and Publication Administration’s (NPPA) website on Tuesday, causing gaming stocks in the country to bounce back.
The incident raised questions for analysts to call it ‘unusual’ as the previous regulatory measures tend to stay on the website even after the consultation period, while some analysts stated a possibility of the amendment of the curb.
The share price of Tencent Holdings and NetEase, two of the world’s biggest gaming companies, surged as much as 6% and 7%, respectively, in the morning session, and keeping more than 4% uptrend at noon against the Hong Kong’s Hang Seng Index (HSI), which closed 2.63% higher.
The announcement of the draft version of the rules, aiming to limit the spending for online games, had shook investors with concerns, dissolved nearly $80 billion in market value from Tencent and NetEase, and caused an effect to the confidence of the country as it tried to boost the slow economy.
