Tencent, Nexon Soar After Surprise Approval for Marquee Game
- Nexon hits its limit while Tencent gains most in months
- Mobile DnF had been on the cards for a launch back in 2020
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Tencent Holdings Ltd. and Nexon Co. surged after Chinese regulators approved their Mobile DnF game, green-lighting a long-anticipated marquee title that had failed to pass regulatory muster for years.
Investors welcomed the approval at a time the world’s largest mobile gaming arena is grappling with a downturn and regulatory uncertainty. Tencent, which developed the title jointly with its Korean partner, gained as much as 5.9% Friday in Hong Kong, its most since July. Nexon traded limit-up in Tokyo, set for a record daily of more than 20%.