Tencent shares fall over 2% after India bans PUBG and other mobile apps

Governmnet ban 118 more mobile applications, including PUBG, in the interest of "sovereignty and integrity of India, Defence of India, security of the state and public order" invoking Section 69 of Information Technology Act.

The shares of Chinese gaming and social media powerhouse, Tencent fell more than 2% on Thursday after India banned 118 mobile apps, including the firm’s popular video game PUBG.

The stock traded 2.2% lower at HK$533 in the afternoon, on track to snap two straight sessions of gain. The list of 118 mostly Chinese apps also includes those from Baidu and Xiaomi’s ShareSave, as India stepped up pressure on Chinese technology firms following a standoff with Beijing at the border.

"The Ministry of Electronics and Information Technology, Government of India invoking it’s power under section 69A of the Information Technology Act read with the relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009 and in view of the emergent nature of threats has decided to block 118 mobile apps since in view of information available they are engaged in activities which is prejudicial to sovereignty and integrity of India, defence of India, security of state and public order," the Ministry said in an official release.

This move will safeguard the interests of crores of Indian mobile and internet users. This decision is a targeted move to ensure safety, security and sovereignty of Indian cyberspace, the ministry said further.

The latest move from Indian government comes at a time when China allegedly made a transgression attempt near the southern bank of Pangong Tso, which was thwarted by the Indian Army.

In June this year, India banned 59 apps with Chinese links, including TikTok, UC Browser, Weibo, Baidu Map and Baidu Translate saying they were prejudicial to sovereignty, integrity and security of the country.