Tencent gains despite People's Daily attacks

Tencent (0700) yesterday edged up 0.3 percent, defying three rounds of attacks in four days by the People's Daily over the internet giant's popular Honor of Kings mobile game.

In its editorial yesterday, the state- run paper said the new mobile age will not be as "worry-less" as people have thought and that mobile technology is a double-edged sword.

Opportunities are everywhere in the mobile age, but there will also be loopholes, it said, adding the mobile age has brought comforts and convenience, as well as troubles and annoyance.

"To a certain extent, competitiveness will depend on whether one can 'patch up' the system with the fastest speed and highest quality," the editorial said.

Tencent did not respond to the editorial, but said it will adopt new policies to prevent juveniles from becoming addicted to its popular game.

These include barring underage players from playing the game after 9pm.

Tencent said parents have welcomed the new playtime restriction and added it will also help improve communications between parents and children.

Tencent's share price rose 1.5 percent to HK$275 in the morning, but it later closed at HK$271.80. Turnover was HK$4.6 billion.

Earlier this week, the People's Daily slammed Tencent for putting profit above children's interests.