NetEase (NTES) has started to feel the heat amid a heightened regulatory crackdown targeting the video gaming sector in China. Citing the South China Morning Post, Reuters reports that the gaming firm has started to downsize its gaming studios and projects. NTES shares fell 4.15% to close at $84.52 on September 14. NetEase provides online services focusing on gaming commerce and communication in China. It also develops PC and mobile games. Citing the South China Morning Post, Reuters reports that NetEase programmers, designers, and creative artists at the Shanghai and Hangzhou offices have been taken off their original jobs.
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