Tencent Recoups Some Losses After China Soothes Crackdown Fears

(Bloomberg) — Tencent Holdings Ltd. regained just some of last week’s share losses after Beijing softened its stance on controversial new gaming restrictions, suggesting investors remain wary of another crackdown on the world’s largest mobile arena.

Tencent climbed as much as 4.9% while smaller rival NetEase Inc. jumped more than 14% in their first Hong Kong trading session after the government tried to assuage the market, tracking a Tuesday rebound in their mainland Chinese-traded peers. Bilibili Inc., a streaming service popular with gamers, gained more than 7% on Wednesday.