Tencent again left off China's list of new videogame licensees: report
Tencent Holdings Ltd. was left off a Chinese regulator's list of companies allowed to make new videogames Thursday, the Financial Times reported. It was the second time in two weeks that Tencent, the largest videogame company in China, was omitted from a list of new licensees. Last year, China announced tight restrictions on new videogames over fears of their effects on children, sending stock of Chinese videogame makers, including Hong Kong-based Tencent, tumbling. It only recently started approving new titles. Tencent shares were up slightly Thursday, as analysts suspected regulators were approving smaller companies first, and that Tencent would eventually receive a license to make new games, the FT reported. Tencent shares are down almost 26% over the past 12 months. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.