Tencent, NetEase shares rise as China gaming crackdown eases

rose on Wednesday after China's video games regulator granted the first gaming licences in 2023, further easing an industry crackdown.

Tencent's shares rose as much as 1.7% in early trade before paring gains, while NetEase's stock jumped as much as 5.8% to its highest in more than four months.to 88 online games on Tuesday is the latest sign that a regulatory clampdown that began in August 2021 and took a heavy toll on the world's largest gaming market is ending.

Last month, China's move to grant publishing licences to 44 foreign games for domestic release was the strongest signal that the clampdown was ending. Regulators resumed issuing gaming licences to homegrown games last April, and the approval of foreign games was seen as the last regulatory curb to be removed.

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