Tencent, Peers Rally on Reports China Resumes Game Approvals
- WeChat-owner climbs on signs that the pipeline’s restarting
- Regulators are said to have okayed a first batch of games
This article is for subscribers only.
Shares in Tencent Holdings Ltd. jumped 4.5 percent after Chinese media reported that regulators have resumed approving games, signaling a potential end to a hiatus that’s chilled the world’s biggest gaming industry.
Tencent and peers from South Korea to Japan spiked Friday after the official China Securities Journal reported that regulators had reviewed and passed an initial batch of online games. It cited Feng Shixin, deputy director of the Communist Party’s influential propaganda department, telling an industry forum that the government was prepping licenses for green-lit titles.