Investing.com - Hong Kong-listed Tencent’s share prices fell in Asia after jumping 5% on Friday following reports that the Chinese government resumed approving new video games.
The company’s stock closed at $310.6 on Monday, down 1.5%. It gained as much as 4.6% on Friday after the Chinese government said it would approve a new group of games Tencent wanted to release.
“We hope through new system design and strong implementation we could guide game companies to better present mainstream values, strengthen a cultural sense of duty and mission, and better satisfy the public need for a better life,” China’s Communist Party Propaganda Department official Feng Shixin said in a speech in Haikou last week.
A first batch of approvals for games had been completed, he added.
The Chinese firm was hit in March when China halted the approval of new mobile games to help prevent myopia in children.
One of Tencent’s most popular games, Monster Hunter: World, had to be taken down a few days after its launch in August.