NetEase shares climb on Microsoft deal to bring Blizzard's games back to China

NetEase

10/04/2024 03:42

** Hong Kong shares of Chinese video games giant NetEase Inc
 9999.HK  climb 1.9% to HK$160.50, their highest since March 28,
and on track for a fourth straight session of gain
    ** Co's U.S.-listed stock  NTES.O  rose 3.8% on Tuesday 
    ** China's second-largest video games co by revenue said it
is working with Microsoft  MSFT.O  to bring Blizzard's popular
games, including "World of Warcraft", back to China this summer
after a public fallout that ended a decade-long partnership in
2023
    ** Microsoft and NetEase said they have also entered into an
agreement to explore bringing new NetEase titles to Microsoft's
Xbox gaming consoles and its other gaming platforms
    ** The Hang Seng Composite Index on information technology
firms  .HSCIIT  rises 2%, the Hang Seng Tech Index  .HSTECH 
gains 1.6% and the Hang Seng Index  .HSI  adds 1.1%
    ** NetEase's Hong Kong stock up 13% YTD, U.S.-listed shares
up 8% YTD 

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