HK-listed game developer XD jumps most in 3 months; major shareholder ups stake

XD

30/06/2021 09:30

** Shares of Chinese mobile and web games developer XD Inc
 2400.HK  surge 18.4% to HK$69.15, the biggest intraday
percentage gain since April 1, and on course to snap two
straight session of declines
    ** Stock hit the highest since May 4, the biggest percentage
gainer on the Hang Seng sub-index tracking information
technology firms  .HSCIIT  
    ** XD's controlling shareholder Huang Yimeng had bought an
aggregate 1.116 mln shares at an average price from HK$55.51 to
HK$59.96 each during three days from June 23 to 25 for an
aggregate HK$64.49 mln ($8.31 mln), according to disclosure from
the Hong Kong bourse (https://bit.ly/3y7YfFv)
    ** Huang's stake increased to 33.91% from 33.68% - HKEx
    ** Citi says games developers will benefit from a
potentially more regular monthly release of domestic games for
the remainder of the year after the National Press and
Publication Administration released approval of the second batch
of imported games titles in 2021
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  slips 0.8%
    ** The Hang Seng China Enterprises Index  .HSCE  eases 0.9%,
and the benchmark index  .HSI  slides 0.6%
    ** As of last close, the stock had sugred 24.7% this year 


($1 = 7.7648 Hong Kong dollars)

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