Tencent shares jump after reports of gaming approvals

Tencent company name is displayed at a news conference in Hong Kong, China March 17, 2016. REUTERS/Bobby Yip

SHANGHAI (Reuters) – Tencent Holdings Ltd’s (0700.HK) shares jumped by as much as 4.2 percent on Friday after local Chinese media reports cited a regulatory official as saying that some gaming approvals had been completed after a lengthy freeze.

Several local media outlets, citing a senior official at the state publicity department, said a first batch of approvals for games had been completed. The official was speaking at the China Game Industry annual conference in Hainan province.

Earlier this month, state media reported that Chinese regulators set up an online video games ethics committee, raising hopes the government was preparing to resume an approval process that has been frozen for most of this year.

Reporting by Adam Jourdan and Brenda Goh; Editing by Himani Sarkar

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