Tencent Stocks Plunge After Chinese Media Labels Gaming ‘Spiritual Opium’

Students use their mobile phones while walking in a mall in Beijing on January 26, 2018. / AFP PHOTO / WANG ZHAO (Photo credit should read WANG ZHAO/AFP via Getty Images)
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The stock price of the world’s largest games vendor Tencent went on a roller coaster ride on Tuesday. Its value dropped over ten percent after state-run media labelled its products as “spiritual opium” in an article. “A ‘spiritual opium’ has grown into a several hundred billion worth business,” the state-run Xinhua affiliated Economic Information Daily reported on early Tuesday morning. Spiritual opium refers to products which can first m
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