(Bloomberg) -- Tencent Holdings Ltd. dived as much as 9.3% Tuesday as nervous investors continue to reevaluate their holdings in the wake of Beijing’s broad crackdown on Chinese internet giants.
The gaming and social media giant, an investor in firms like Meituan and Didi Global Inc. that had been caught up in a wave of recent selling, extended a 14% loss from last week. Some investors have speculated that Beijing might set its sights on the gaming sector after coming down hard on adjacent online industries from e-commerce to ride-hailing. Other gaming stocks, including Netease Inc. and XD Inc., also dropped Tuesday.
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