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NTES - NetEase Inc News Story

$107.47 -4.3  -3.9%

Last Trade - 02/12/21

Sector
Technology
Size
Large Cap
Market Cap £57.39bn
Enterprise Value £50.41bn
Revenue £9.82bn
Position in Universe 174th / 7294

BUZZ-NetEase's HK shares fall on report of scale down projects; tech stocks slide

Wed 15th September, 2021 9:11am
** Hong Kong shares of NetEase Inc  9999.HK  fall as much as
5.8% to HK$126.10, the lowest since Aug. 23, and on track for
third consecutive session of decline
    ** NetEase has downsized some of its studios and projects
started in early September amid a regulatory crackdown by
Beijing on the video gaming sector, the South China Morning Post
reports, citing people with direct knowledge of the matter
 urn:newsml:reuters.com:*:nL4N2QG2X3
    ** NetEase did not immediately respond to a Reuters' request
for comment
   ** State news agency Xinhua said China will push for a more
"civilised" internet with focus on content also add pressure on 
   the Hong Kong-listed tech stocks, sending the Hang Seng Tech
Index  .HSTECH  down 3% in late trade  urn:newsml:reuters.com:*:nB9N2PO01U
    ** Stock of Tencent  0700.HK  falls 3.8% on its third
straight session; Its shareholder Prosus  PRX.AS  drops 1.2%,
the second biggest percentage decliner of Amsterdam's blue-chip
index  .AEX  
    ** Hong Kong shares of Bilibili Inc  9626.HK  drop 3.6% and 
Alibaba stock  9988.HK  declines 2.8% 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  plunges 3.3%
    ** The Hang Seng China Enterprises Index  .HSCE  falls
1.6%and the benchmark index  .HSI  slides 1.7%
    

 (Reporting by Donny Kwok, Editing by Louise Heavens)
 ((donny.kwok@thomsonreuters.com))
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