PUBG Ban in India: Chinese company Tencent shares break more than 2 percent. Shares of Chinese gaming and social media giant Tencent broke more than two percent on Thursday. This marked a significant decline in the company’s stock a day after India banned 118 apps, including Tencent’s popular video game PUBG. The company’s stock was down 2.2 per cent on Thursday at 533 Hong Kong dollars. Earlier, the shares of the two companies had seen a boom
PUBG Ban in India: Chinese company Tencent shares break more than 2 percent
India on Wednesday banned 118 apps citing security reasons. The list of these banned apps includes mostly Chinese apps. The list of apps banned by the Indian government also includes apps from Baidu and Xiaomi. This decision was taken by India, increasing the pressure on Chinese tech companies after the tension with the border with Beijing increased.
The complete ban on PUBG Mobile in India is being seen as a major setback for Tencent. In a statement issued on Wednesday by the Union Ministry of Electronics and Information Technology, these 118 apps, including PUBG, were cited as a threat to Indian sovereignty and integrity and security and public order. The Ministry had informed that Indian Cybercrime Co-ordination Censor and Home Ministry had already recommended to ban these apps.