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Hang Seng Bounces Back

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Hang Seng Bounces Back

B
Benzinga

10 Views • Sep 10, 2021

Description

Even though Chinese regulators have temporarily slowed their approvals of new online games as Beijing steps up measures to tackle gaming addiction among young people, shares in Asia-Pacific rose on Friday, as investors monitored Hong Kong-listed stocks of firms in regulation-hit sectors such as video games. Shares of Tencent ($TCEHY@China) in Hong Kong jumped 2.08% on Friday while NetEase ($NTES@China) gained 3.14% — a partial recovery after the heavy losses seen Thursday. The broader Hang Seng index in Hong Kong rose 1.91% on the day, largely recovering from its more than 2% decline on Thursday. The Nikkei 225 rose 1.25% in Japan, and the Topix index ($TOPIX@Japan) advanced 1.29%. Gaming stocks had tumbled on Thursday when it was initially reported that the Chinese government would suspend approvals for new online games in the country. After the market close, however, the report was corrected to say regulators will slow the approvals process.

Keywords & Tags

#stock market #china #Politics #video games #economic recovery #regulations #Chinese government #Japan #Hong Kong #foreign affairs #Beijing #government officials #Tencent #TCEHY #NetEase #NTES #gaming addiction #Hang Seng index #Nikkei 225 #Seng Index #online games #Hong Kong-listed stocks #Topix index #TOPIX #Gaming stocks #suspend approvals

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