Tencent Fails To Win Gaming License Since China Lifted Suspension; Although NetEase Makes A Breakthrough

China's gaming regulator granted publishing licenses for 73 online games, including titles belonging to NetEase Inc (NASDAQ:NTES) and other developers, Reuters reports.
NetEase, China's second-largest gaming company behind Tencent Holding Ltd (OTC:TCEHY), received its first video game license in 14 months for a sports game titled "All-star Street Ball Party."
However, Tencent, the most prominent game developer, is yet to make a breakthrough since the suspension ended.
Tencent-owned Nanjing Wangdian Technology won a license for an educational game called Health Protection War.
China suspended game approvals last August before resuming them in April.
Recently, Tencent shareholders added $7.6 billion in shares to Hong Kong's clearing and settlement system, spurring speculation of a selloff by its biggest shareholder, Naspers Ltd (OTC:NAPRF).
Price Actions: TCEHY shares traded lower by 2.46% at $38.52 on the last check Tuesday. NTES shares traded higher by 0.67% at $88.05.

To add Benzinga News as your preferred source on Google, click here.