South Korean gaming stocks cheer publishing licenses in China
29/12/2022 24:51
** South Korean gaming stocks jump after Chinese authorities
grant publishing licenses
** Netmarble Corp 251270.KS rises more than 16% in its
likely best session ever since listing in 2017
** NCSOFT 036570.KS up more than 6%, Krafton 259960.KS
up over 3%, Kakao Games 293490.KS over 7% and Devsisters
194480.KQ over 17%
** China's video games regulator grants publishing licences
to 45 foreign games for release in the country, including seven
South Korean games, further lifting rigid curbs that have
hammered the industry for 18 months
** "South Korean gaming companies are now able to enter the
Chinese market via local publishers, which had only been making
limited profits through intellectual property sales since
China's ban on South Korean contents in 2017," says Hana
Securities in a research note
** The benchmark KOSPI .KS11 is down 0.7%, junior KOSDAQ
.KQ11 is down 0.7%, K-New Deal Index for gaming sector is up
4.3% as of 0033 GMT
(Reporting by Jihoon Lee)
((jihoon.lee@thomosonreuters.com))