NetEase Financial News

Marvel Rivals has been confirmed through an official trailer for the game released earlier today. Among the details revealed by the teaser are the new playable characters that will join the game in Season 2. The upcoming season will go live on April 11.

Top Events of The Day: PM Modi to hold a rally in Nagpur to show support for the NDA's Ramtek candidate. Eid will be celebrated in J&K, Ladakh, and Kerala. Also, Russia's Angara rocket is scheduled for launch today.

HONG KONG—Investors in China’s biggest internet companies have suffered through a tumultuous 2021, a lackluster 2022 and a disappointing 2023. After a lousy three years for the once-hot sector, many investors are asking—where do things go from here? The Chinese internet sector has lost more than $1.2 trillion in market value since the start of a regulatory crackdown that has resulted in fines, troubled restructuring attempts and changes to business strategies.

China's authority in charge of press and publications has approved 105 online games, saying it fully supports the industry after newly proposed curbs caused massive losses for major game companies

Asian shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday

World shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday

China's new rules to reduce spending on video games create panic among investors, wipes off $80 billion Draft rules that curb spending and use rewards that encourage playing video games were published on December 22, raising concerns that regulators were once again cracking down heavily on the sector. Contradicting its previous stance, China's video game regulator - the National Press and Publication Administration, came up with a more conciliatory tone, saying it would improve the rules by "earnestly studying" public views.

Its Hong Kong-listed shares climbed 3% in morning trade after a 12% tumble on Friday. Hong Kong markets were closed on Monday and Tuesday for public holidays.

Chinese gaming companies have announced share buybacks — plans seen as an attempt to reassure investors after the market was spooked by regulatory moves to clamp down on consumer spending on games. Last Friday, regulators published draft rules that would ban online games from giving players rewards if they log in every day, if they spend on a game for the first time or if they spend several times on a game consecutively. All are common incentive mechanisms in online games.

In this article

China stocks slipped on Monday, with online gaming shares extending their decline of the previous session as China's new rules to curb spending on video games dented sentiment despite regulators' latest efforts to soothe investor concerns. The Hong Kong market is closed for the Christmas holiday. ** The blue-chip CSI 300 Index slipped 0.1% and the Shanghai Composite Index was down 0.3% by the midday recess. ** China's CSI Anime Comic Game Index slumped 4.9%, extending a 10% tumble in the previous session. ** The weak sentiment towards the sector persisted despite a statement from regulators on Saturday that they would make improvements to the proposed rules after «earnestly studying» public views on them. ** The proposed rules aim at curbing money and time spent on video games, dealing a blow to the world's biggest games market and knocking the value of Tencent Holdings, Netease and other gaming stocks. ** On Monday, shares in gaming companies Giant Network Group, 37 Interactive Entertainment Network and Kingnet Network were all down their 10% daily limit. ** Stocks in the media sector tumbled 2.6%, while defence shares gained 1.6%.

Tencent's «Counter War: Future» and NetEase's «Firefly Assault» were among the approved games.

Wall Street closed its eighth straight winning week with a quiet finish following reports showing inflation on the way down and the economy potentially on the way up

China has released draft guidelines aimed at curbing excessive spending on online gaming

Reuters report, nearly $80 billion was wiped off from the market value of from China's two biggest gaming companies. The government of China has decided to prohibit online games from bestowing rewards upon players for routine daily logins, inaugural financial transactions within the game, and successive instances of spending.

Investing.com – Main U.S. indexes rose Friday in light volume ahead of the Christmas holiday as inflation data lifted hopes the Fed will begin lowering interest rates in the first quarter of next year.

Investing.com-- Shares of Chinese gaming giant Tencent and smaller peer Netease fell sharply on Friday after authorities unveiled more regulations aimed at curbing player spending on online gaming.

online gaming industry, sending shares in tech giants including Tencent tumbling. New draft restrictions published online by the regulator are aimed at limiting in-game purchases and compulsive playing behaviour.

Tencent Holdings is relying on one-time bitter rival ByteDance to promote its most important video game release in years, in a sign of warming relations as well as intensifying competition as China's gaming industry returns to growth. Tencent released on Friday mobile party game "DreamStar" that it hopes to challenge «Eggy Party», a similar offering from NetEase which has become a surprise hit this year with 100 million monthly active users.

China's video games market returned to growth this year as domestic revenue rose 13% to 303 billion yuan ($42.6 billion), putting Beijing's 8-month crackdown two years ago in the rear-view mirror. Industry association CGIGC said at a conference in Guangzhou on Friday the industry's domestic revenue this year reached over 300 billion yuan for the first time. It also said the number of gamers in China grew 0.61% to a record 668 million, which is more than North America's entire population.

By Josh Ye