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16.02 / 12:43
After Garena Free Fire ban in India, Sea shares keep tumbling
Sea Ltd.’s sudden plunge is proving to be a burden for a benchmark MSCI Inc. index. The gaming stock, which listed in the U.S. in 2017, has fallen near 60% from an October high including a record plunge on Monday. Sea was added to the MSCI Singapore Free Index last year, and is a key reason why the gauge is trailing Singapore’s benchmark Straits Times Index by 12 percentage points.  As Sea’s troubles deepen amid mounting competition, slowing growth and most recently, India’s ban on its most popular gaming title, Garena Free Fire, so are concerns over the concentration risk for the MSCI Singapore measure. Sea has a 10% weighting, with the full inclusion set to be completed this month.
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