HK-listed Imperium Tech jumps most in 6 mths on metaverse deal, Tencent rises

Imperium Technology

21/06/2022 04:46

** Shares of household products manufacturer Imperium
Technology Group Ltd  0776.HK  jump 12.5% to HK$14.42, the
biggest daily pct gain since Dec 24 if gains hold
    ** Stock on course to snap three consecutive sessions of
losses
    ** Company says its metaverse project METASENS has entered
into a collaboration and license contract with Jw Phantaci
Ltd(PHANTACi), which established by Asian popstar Jay Chou and
his team, to collaborate in the field of mobile games
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    ** Says it intends to tap into the blockchain games and the
metaverse as part of its business plan to develop and apply the
relevant technologies in its businesses 
    ** China's Tencent  0700.HK  rises 2.3% in its best day
since June 8 after it announced to its staff on Monday the
official formation of an "extended reality" (XR) unit, formally
placing its bets on the metaverse concept of virtual worlds
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    ** Hang Seng China Metaverse Index  .HSCMI  jumps 1.7%, Hang
Seng Tech Index  .HSTECH  surges 1.5%, and the benchmark Hang
Seng Index  .HSI  rises 1.3%
    ** As of last close, the stock of Imperium Technology had
dropped 25.6% this year, while Tencent shares had fallen 16.4%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))