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Chinese Tencent losses $15 billion in market value for the day

Chinese media and technology giant Tencent lost today $15.1 billion in market value after the announcement that the company will restrict children's access to its most popular mobile game - Honour of Kings.

According to Tencent's official blogs, children under the age of 12 inclusive will be able to play Honour of Kings no more than an hour a day and will not be able to enter the game after 21:00. Users from 12 to 18 years old can play two hours a day. The changes took effect on Tuesday.

Earlier on Monday and Tuesday, the People's Daily published articles in which Honour of Kings was cited as an example of how addictive games spread "negative energy" and even lead to deaths.

In the first quarter 2017, Honour of Kings became the most profitable mobile game in the world, generating revenues of about $883 million.



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