NetEase's HK shares jump on earnings beat, new games approval; Tencent up

CMGE Technology

18/11/2022 03:03

** Hong Kong-listed shares of Chinese internet and gaming
company NetEase Inc  9999.HK  jump as much as 8% to HK$111.80,
their biggest intraday pct gain since Nov 11 
    ** Stock is the fourth-biggest pct gainer in Hang Seng Index
 .HSI , Hang Seng Tech Index  .HSTECH  and Hang Seng China
Enterprises Index  .HSCE 
    ** NetEase  NTES.OQ  reported quarterly adjusted earnings of
11.35​ yuan per share for the quarter ended September, beating
mean expectations of 12 analysts for the quarter of earnings of
7.42 yuan per share  urn:newsml:reuters.com:*:nL8N32D509
    ** NetEase said its board of directors approved a new share
repurchase programme of up to $5 bln of the firm's ADSs and
ordinary shares in open market for a period of not exceeding 36
months
    ** China's video games regulator on Thursday granted
publishing licences to 70 online games, including titles
belonging to NetEase  urn:newsml:reuters.com:*:nL1N32D0WM
    ** Other game licences approved include ones belonging to 
Tencent  0700.HK , CMGE Technology  0302.HK , XD Inc  2400.HK ,
Giant Network  002558.SZ  and Perfect World  002624.SZ , sending
their stocks up between 1.8% and 5.6%
    ** Hang Seng Commerce & Industry Index  .HSNC  surges 3.2%
and Hang Seng Tech Index  .HSTECH  jumps 3.9%
    ** Hang Seng China Enterprises Index  .HSCE  rises 1.9% and
Hang Seng Index  .HSI  up 1.5%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))