Tencent shares fall over 2% after PUBG banned by India

Shares of Chinese multinational technology conglomerate Tencent traded at 2.02% lower on Thursday after India banned 118 mobile apps including the firm’s popular online game app PUBG.

The mobile version of PUBG for Android and iOS was released in 2018 and in India, the game was a massive success with an estimated 33 to 50 million active players as of 2019.

India on Wednesday decided to block 118 mobile apps including PUBG, WeChat, Baidu. The decision came nearly two months after the Govt. banned 59 China-linked apps which included TikTok.

In its decision to block these apps, the government said, “To protect India’s sovereignty as well as the privacy of our citizens, there has been a strong chorus in the public space to take strict action against such Apps as they collect and share data in a surreptitious manner and compromise personal data and information of users that can have a severe threat to the security of the State.”