Fortnite, Tencent and the fate of world's biggest game market

Lulu Yilun Chen and Yuji Nakamura

Updated Aug 24, 2018 – 3.24pm, first published at 3.16pm

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Tencent Holdings, the world's biggest games company, needs some help from Fortnite, the world's hottest game.

Just a few months ago, Tencent reigned as the most valuable company in Asia, but it has since suffered a record stock plunge that has wiped more than $US140 billion ($192 billion) off its market value. The primary reason: The Chinese government unexpectedly froze the approval of new games, including Fortnite, stunning investors and even Tencent's management.

Bloomberg