Shares of gaming stocks came under pressure on Monday after China announced the strictest-ever regulations to limit gaming time for minors.
China's National Press and Publication Administration on Monday issued strict new measures aimed at curbing videogame addiction.
The new rules mandate no videogames during the school week for anyone under 18 and one hour a day on Fridays, weekends and public holidays.
Children and teenagers under age 18 will be allowed to play games only between 8pm and 9pm on Friday, Saturday and Sunday, reports say
To enforce the new regulations, NPPA is asking game providers in China to block underage gamers from accessing those developers' own games, a move that would require identity verification technologies, Protocol reported.
The restrictions apply to any devices including phones.
Previously, China had limited the length of time under-18s could play videogames to 1.5 hours on any day and three hours on holidays under 2019 rules.
At last check, shares of Activision Blizzard (ATVI) - Get Activision Blizzard, Inc. Report slipped 2.1%, Take-Two Interactive (TTWO) - Get Take-Two Interactive Software, Inc. Report eased 0.9% and shares of Tencent Holdings TCEHY dropped 1.2%.