NetEase Drops as Rival Tencent’s New Game Poses Competition
- Dream Star debuting on Dec. 15 is comparable with Eggy Party
- Firm’s stock dropped as much as 5.5% in Hong Kong on Tuesday
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About $7 billion has been wiped off NetEase Inc.’s market capitalization this week as investors worry about competition from rival Tencent Holdings Ltd.’s upcoming party game.
The internet technology firm’s stock dropped as much as 5.5% in Hong Kong on Tuesday, extending its losses this week to almost 11%. Tencent said on Saturday it would launch its new game Dream Star on Dec. 15 across platforms.