China’s Gaming Giant NetEase Jumps Over 9% in Hong Kong Debut

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

NetEase Inc. soared more than 9% at the start of its first day of trading in Hong Kong, a solid debut that bodes well for a growing line-up of Chinese tech giants seeking to list closer to home.

Shares in China’s biggest gaming company after Tencent Holdings Ltd. opened at HK$133. That’s after NetEase’s shares changed hands at a roughly 2% to 3% premium to its HK$123 listing price in the days prior.

NetEase makes its debut in Hong Kong as tensions between Washington and Beijing threaten to curtail Chinese companies’ access to U.S. capital markets, particularly after once high-flying Luckin Coffee Inc. crashed amid an accounting scandal. It’s a victory for Hong Kong, coming on the heels of Alibaba Group Holding Ltd.’s $13 billion share sale and the passing of a national security law that critics fear could jeopardize its status as a financial hub.

No. 2 Chinese online retailer Inc. is expected to debut June 18. The twin internet giants are expected to usher in a wave of other Chinese firms who seek capital to bounce back from the coronavirus pandemic and fuel longer-term expansion.

NetEase — a distant second to Tencent in the world’s largest video game market — is looking globally for the next chapter of growth, teaming up with Japan’s Studio Ghibli and investing in Canadian game creator Behaviour Interactive. After selling its cross-border e-commerce platform Kaola to Alibaba, the 22-year-old company has shifted its focus to music streaming and online learning, despite worsening competition in these areas.

The creator of popular franchises like Fantasy Westward Journey and Onmyoji reported a 14% rise in online games revenue for the coronavirus-stricken March quarter, less than half of the pace Tencent’s gaming division managed during the same period.

This article was originally posted on

Home of Science
Follow me

- Advertisement -




The Hundred: Heather Graham dismisses Sophia Dunkley with ‘superbly taken’ catchon August 31, 2022 at 1:13 pm

Watch Northern Superchargers' Heather Graham dismiss Southern Brave's Sophia Dunkley on 38 runs with a "superbly taken" catch at the boundary during their Hundred...

The Ashes 2023: Bairstow dismissal just not cricket, says Rishi Sunakon July 3, 2023 at 9:15 pm

The PM's spokesman said Australia had broken the spirit of the game with the controversial stumping.This video can not be playedTo play this video...

British astronaut Tim Peake retireson January 20, 2023 at 11:21 am

The former British Army Air Corps helicopter pilot will concentrate on educational outreach.Image source, ESAUK spaceman Tim Peake is stepping down permanently from his...

US anger at Russian anti-satellite missile test debrison November 15, 2021 at 9:13 pm

The state department says Russia "recklessly" destroyed a satellite, endangering astronauts in space.Image source, ReutersThe US has condemned Russia for conducting a "dangerous and...

Campaigners slam government river bathing decisionon March 10, 2023 at 6:51 pm

Just one river included in government's proposal for new designated swimming sitesJust one river included in government's proposal for new designated swimming sites
Home of Science
Follow me