8/4, 5:10 AM (Source: TeleTrader)
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Tencent shares rebound on gaming response

Shares of Tencent Holdings Inc. jumped over 4% on Wednesday, recovering most of the losses suffered during the previous session.

The company's shares plunged over 10% on Tuesday after state-owned newspaper Economic Information Daily branded online gaming a "spiritual opium," particularly warning of its effect on children. However, Tencent stock rebounded as the company announced it will limit gaming time for minors. Meanwhile, the Chinese newspaper removed the article, with an insider claiming it was misinterpreted.

Tencent shares listed in Hong Kong rose 4% to 464 Hong Kong dollars at 4:50 am CET.

Breaking the News / NP