Commentary Shares of Sea Ltd., a Singapore-based technology company, slumped over 18 percent on Feb. 14 after India banned 54 game apps, including Sea’s popular Free Fire game. While Sea is located in Singapore, its American depositary receipts (ADRs) are listed on the New York Stock Exchange (NYSE). While it is the city-state’s most valuable company by virtue of its wildly popular games, it also runs business-to-consumer (B2C) internet shopping platform Shopee and internet payment app SeaMoney. India’s ban was due to “elements hostile to the sovereignty and integrity of India and for activities detrimental to national security,” according to a government source quoted by The Hindu. India has banned 321 apps for similar reasons. India’s concerns appear to be well-founded. Sea’s founders are natives of China who were educated in Singapore and the United States. And Sea’s seed capital came from Tencent, one of several Chinese companies that India’s intelligence …