JPMorgan: Gaming Environment Has Changed, Unfavorable for NetEase, Favorable for Tencent

JPMorgan believes that with the shift in regulatory focus, $TENCENT (00700.HK)$ , as "China's largest mini-game platform," may experience a resurgence. Combined with the initial success of Tencent's overseas investments and the strong momentum in its international gaming business, the outlook for Tencent appears promising.