WATCH: China is to limit under-18s to three hours a week of online gaming, prompting a furious backlash from dedicated young gamers, and a stock-price tumble for Krafton and other major players in the market
People play online games at an internet cafe in Fuyang, Anhui province, China August 20, 2018.
"Sexual consent at 14, at 16 you can go out to work but you have to be 18 to play games. This is really a joke." While the hit to gaming stocks was relatively measured as children do not provide much revenue for gaming companies, analysts noted that the implications for the long-term growth of the industry were much more severe.
"The root of the problem here is not the immediate revenue impact," said Mio Kato, an analyst who publishes on SmartKarma. "The problem is that this move destroys the entire habit-forming nature of playing games at an early age.
"The new policy is not the worst thing that could have happened," said the investor who declined to identified given the sensitivity of the topic.Shares in Tencent, the world's largest gaming firm by revenue, initially slid but ended up 3%, with analysts noting it had already imposed additional limits on gaming for minors earlier this month.
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