Money

Stocks drop after China brands online games ‘electronic drugs’

Published

5 years ago

August 3, 2021

Anthony Lucas

Shares in two of China’s biggest online gaming companies have slipped after a state media outlet called them “electronic drugs”

Shares in Tencent and NetEase fell more than 10% in early Hong Kong trade.

Investors are increasingly concerned about Beijing cracking down on tech firms.

In recent months, Chinese authorities have announced a series of measures to tighten their stance on the technology sector as well as private education companies.

An article published by the state-run Economic Information Daily stated that many teenagers had become addicted to online gaming and it was having a negative impact on them. The news outlet is affiliated with the official Xinhua news agency.

The article cited Tencent’s hugely popular game Honor of Kings, saying students were playing it for up to eight hours a day, and asked for more curbs on the industry.

“Distroying a generation”

“No industry, no sport, can be allowed to develop in a way that will destroy a generation,” it said before going on to liken online games to “spiritual opium”.

Tencent has now confirmed it would introduce new measures to reduce children’s access to and time spent on its Honor of Kings game.

Tencent also confirmed plans to eventually roll out the policy to all of its games.

The recovery in share prices came as Economic Information Daily deleted the article from its account on WeChat.

Tencent also saw its shares fall last week after being ordered to end exclusive music licensing deals with record labels around the world.

Tencent is only one of a number of Chinese companies listed in the US, Hong Kong and mainland China to see shares fall drastically this year following China’s crackdown.

Last week saw shares in Chinese online tutoring firms slump after they were stripped of the ability to make a profit from teaching core subjects in China.

Officials have been worried after China’s latest census showed that the birth rate had fallen to the lowest in seven decades.

The new guidelines also restricted foreign investment in the industry.

The major shift in policy came as authorities try to ease the financial pressures of raising children.

Officials have been worried after China’s latest census showed that the birth rate had fallen to the lowest in seven decades.

Money

Australia’s inflation report and Nvidia earnings impact explained

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Published

3 days ago

February 26, 2026

Harvey Vargas

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.

David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.

On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.

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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights

Money

U.S. stocks rally as AMD, Home Depot, and AI software lead gains

U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

Published

5 days ago

February 25, 2026

Harvey Vargas

U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

U.S. tech stocks surged as investors’ fears over AI disruption eased. Advanced Micro Devices jumped 9% after Meta announced a multiyear deal to deploy AMD’s graphics processing units for AI data centres. The move highlights growing corporate confidence in AI infrastructure investments.

DocuSign also rose 3% following Anthropic’s confirmation that Claude Cowork can integrate with DocuSign, Google Drive, and Gmail, signalling stronger adoption of AI tools across industries.

The iShares Expanded Tech-Software Sector ETF climbed 2% despite remaining over 30% below its 52-week high, showing tech stocks are recovering but still have room to run.

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Money

Stocks tumble amid AI concerns and Trump tariff update

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Published

6 days ago

February 24, 2026

Harvey Vargas

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.

Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.

Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.

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