Investing.com - Shares in Hong Kong-listed Tencent Holdings Ltd (HK:0700) fell Tuesday as its games were once again absent from a list of new titles to be approved by Chinese regulators.
The omission extends the uncertainty over the outlook for Tencent, which was the highest-profile victim last March of government measures to crack down on online gaming in response to fears about addiction and exposure to violence among young people. Tencent gets nearly 40% of its revenue from online gaming.
According to the South China Morning Post, it wasn't clear why there were no Tencent titles on a list of 93 approved games announced by the State Administration of Press, Publication, Radio, Film and Television on Tuesday.
Chinese regulators resumed approving games in December and this is the third list of approvals to be published since then, but there have still been no approvals for Tencent, or for rival NetEase (NASDAQ:NTES), according to the SCMP.
The suspension of approvals last year created a backlog of more than 5,000 titles.
Following today's news, Tencent’s shares were down 1.9% to HK$333.6 by 11:33 PM ET (04:33 GMT). The shares have risen some 8% since the government lifted the suspension in December, but they are still down 28% from before the ban was imposed.