A hot new online game is refuelling investor optimism for Tencent, driving China’s biggest stock boost of 2024.
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TymeBank is raising $150-million to build scale as it prepares for an initial public offering, its CEO said.
ByteDance’s 2023 financial results mark the first time the TikTok owner has overtaken Tencent both in revenue and profit.
TikTok’s Chinese owner ByteDance is facing its biggest threat in the US since the Trump administration.
Beijing has hammered home a longstanding goal to break an American stranglehold on key spheres of technology.
A raft of proposed new Chinese gaming curbs has wiped out $32-billion from Tencent’s stock. The declines may not be over.
Shares in Naspers and Prosus slumped on Friday after China issued new measures to limit players’ spending in videogames.
Chinese regulators will curb excessive spending and rewards that encourage online gaming.
Tencent is relying on one-time bitter rival ByteDance to promote its most important videogame release in years.
Tencent Holdings has revealed one of its most ambitious attempts at a big-budget console game on Friday.