Business / Tencent loses $14 billion in market value after India bans PUBG Mobile

Tencent lost $14 billion in market value after India banned its PUBG Mobile about two months after it banned the Chinese tech giant's WeChat messaging app. Tencent shares fell 2% on Thursday, snapping two straight sessions of gain. India is PUBG Mobile's biggest market, accounting for roughly 175 million installs, or 24% of the total, apps analytics firm SensorTower said.

Deccan Herald : Sep 03, 2020, 04:06 PM
Hong Kong: Shares of Chinese gaming and social media powerhouse Tencent fell more than 2 per cent on Thursday after India banned 118 mobile apps, including the firm's popular videogame PUBG.

The stock traded 2.2 per cent lower at HK$533 in the afternoon, on track to snap two straight sessions of gain.

The list of 118 mostly Chinese apps also includes those from Baidu and Xiaomi's ShareSave, as India stepped up pressure on Chinese technology firms following a standoff with Beijing at the border.