Tencent's value plummets by $20bn after China dishes out new regulations on games

Tencent's value has dropped by some $20 billion following news that China's content regulators are eyeing up new restrictions on video games in order to fight growing myopia - shortsightedness - among the youth.

Reuters reports that the Chinese publishing giant's market value has dropped by $164 billion since January 2018, going from being the biggest company in China by market cap to second place behind nemesis Alibaba Group.

This hasn't been helped by said regulator simply not approving new games for release in the region since the end of March.

Our sister-site PCGamesInsider.biz has the full story.