As their losses pile up, Chinese investors are losing confidence not only in the stock market but in the government’s ability to turn the economy around.
After a market rout, gaming companies like Tencent and Netease rally on signals that regulators might apply proposed curbs on users less harshly than feared.
At least two organizations in America’s most prominent league for professional video game players are selling their teams, underscoring the industry’s uncertain future.
The economy is open again, helping Alibaba, Baidu and Tencent claw back in the first quarter from a miserable 2022, though they will likely face continuing skepticism from investors.
The world’s harshest Covid restrictions exemplify how Xi Jinping’s authoritarian excesses have rewritten Beijing’s longstanding social contract with its people.