China’s Gaming Industry Collapses! $80 Billion Vanishes Overnight, Companies to Cut 2/3 of Staff
China’s Gaming Industry Collapses! $80 Billion Vanishes Overnight, Companies to Cut 2/3 of Staff
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This news quickly stirred the gaming stock market. On the same day, shares of gaming companies on the Hong Kong Stock Exchange and the Shenzhen Stock Exchange plummeted. NetEase was down 24.6%, with a market value loss of HK$128 billion; Tencent Holdings fell 12.4%, evaporating HK$367 billion in market value.
