New China Draft Rules for Online Gaming Send Chinese Stocks Sharply Lower

Chinese gaming stocks are sharply lower Friday after the Chinese government announced new draft rules for online gaming industry. Tencent’s stock fell -12.35% to HK$274, NetEase dumped -24.60% to HK$122, and Bilibili (BILI) fell around 10% on the Hong Kong Stock exchange. The stocks continued to slide heading into the US opening. Netease fell to 81.69 -22.72 (-21.76%) Pre-Market. BILI 10.32 -1.25 (-10.80%) Pre-Market. The new rules are aimed curbing the amount of money and time players spend playing the … Continue reading “New China Draft Rules for Online Gaming Send Chinese Stocks Sharply Lower”

What Are The Risks of China’s Netflix iQiyi $2 Billion IPO

Chinese video streaming company iQiyi, known as China’s Netflix is set to go public Thursday on the Nasdaq under the ticker IQ and expected to raise $2.375 billion, the biggest IPO since Snap’s $3.4 billion last year. Baidu $BIDU is the majority owner.