Chinese gaming firms rise as regulators grant first publishing license since July

XD

11/04/2022 13:37

** U.S.-listed shares of Chinese gaming companies jump
premarket after China grants its first gaming license since July
last year
    ** Douyu International Holdings  DOYU.O , Huya  HUYA.N 
NetEase Inc  NTES.O  and Bilibili  BILI.O  rise between 7.8% and
9.5% before the bell
    ** Chinese regulators awarded XD Inc  2400.HK  a publishing
license for its title "Party Star" on April 8, a document seen
by Reuters showed  urn:newsml:reuters.com:*:nL2N2W90PB
    ** National Press and Publication Administration (NPPA)
plans to publish a list of games it has granted licences to
soon, three sources tell Reuters
    ** Other China ADRs broadly down premarket reflecting
weakness in home markets mired in concerns about COVID-19 curbs,
high inflation and worries over an inversion in 10-year spread
between domestic and U.S. yields  .SS   urn:newsml:reuters.com:*:nL3N2W92G3 
    ** DOYU, HUYA and BILI have fallen 47.2% to 70% since last
July, when Chinese regulators stopped approving game
monetization licenses, dealing a blow to tech giants which rely
heavily on gaming revenue

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))