NetEase Shares Fall After Nationalist Backlash in China Over Winnie the Pooh Post

Shares in NetEase dropped on Monday morning after the Chinese gaming company fell foul of China's censors over a social media post that was suspected of alluding to Winnie the Pooh, a popular way to derisively refer to President Xi Jinping. From a report: The company said over the weekend that it would delay the Asian release of the blockbuster game Diablo Immortal, sending its Hong Kong-listed shares down 9 per cent in the morning to HK$137 before they slightly pared losses by midday. Diablo Immortal, an online multiplayer action game developed by NetEase and Activision Blizzard, had been scheduled to launch in China on June 23. But on Sunday, Diablo Immortal said the release date would be pushed back to "optimise the gaming experience." The delay came as a screenshot circulated online of a post published by the game's official account on Weibo, the popular Chinese microblogging site, dated May 22 that read: "Why hasn't the bear stepped down." The remark was interpreted as a reference to China's President Xi Jinping, who is often illustrated as Disney's Winnie the Pooh. The cartoon bear has been blacklisted by censors in China for years.

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