A woman waits on her bicycle to cross an intersection outside a new shopping mall in Beijing, China, on Sept. 13, 2023. Kevin Frayer | Getty Images News | Getty Images After a year of uneven and disappointing post-pandemic recovery in 2023, China’s consumer sentiment may finally start to improve this year. Last year, the … Read more
Santa Claus looks on at the 98th Annual Christmas Tree lighting ceremony at the New York Stock Exchange on December 1, 2021 in New York. Bryan R. Smith | Afp | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on … Read more
A mobile phone is displaying the screen of Tencent Games company’s stock plunge in Suqian, Jiangsu Province, China, on December 22, 2023. Costfoto | Nurphoto | Getty Images Chinese online gaming stocks rose Wednesday, recovering some losses from the previous session after the country’s top gaming regulator said it will “carefully study” the concerns of … Read more
A customer shops for milk at a grocery store on December 12, 2023 in San Anselmo, California. Justin Sullivan | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter … Read more
Mobile games in China range from League of Legends-like Honor of Kings to Source: Apple Inc. BEIJING — China’s proposed gaming rules would hit smaller developers more than large ones, while also reducing overall online advertising revenue, according to UBS. Tencent, NetEase and Bilibili shares plunged to their lowest in more than a year Friday … Read more
China’s first offline esports experience hall Tencent V-Station, Shanghai, China, October 31, 2020. Costfoto | Future Publishing | Getty Images Tencent lost about $43.5 billion in market value on Friday after China surprised financial markets with a fresh set of rules aimed at curbing excessive gaming and spending. The draft guidelines from China’s National Press … Read more
Sheldon Cooper | LightRocket | Getty Images TikTok parent company ByteDance is cutting hundreds of jobs in its gaming division, a person familiar with the matter told CNBC, marking a significant retreat from a segment it has invested billions of dollars in to challenge market leader Tencent. “We regularly review our businesses and make adjustments … Read more
Gamers play the video game “Star Wars Battlefront II” during the “Paris Games Week” on Oct. 31, 2017. Chesno Publicly listed gaming companies are sitting on a $45 billion pile of cash and cash equivalents — and that could lead to greater consolidation in the $188 billion video games market, according to a new report … Read more
Folks sporting face masks crossing a avenue at Hong Kong’s Wan Chai district on Feb. 16, 2021. Zhang Wei | China Information Service | Getty Photographs Hong Kong’s benchmark index entered bear market territory Wednesday on an intraday foundation, erasing the rebound good points from China’s reopening. The Dangle Seng index hit a session low … Read more