BUZZ-NetEase HK shares hit record high on games approval; rivals also rise

Reuters07-23
BUZZ-NetEase HK shares hit record high on games approval; rivals also rise

** HK shares of NetEase 9999.HK climb 2.4% to HK$221.4, highest since debut in June 2020

** Stock on course for fifth consecutive session of gains

** U.S.-listed stock NTES.O gained 1.6% on Tuesday

** China's regulator approves seven imported online games in July, including two games by NetEase, its unit

** China's National Press and Publication Administration also approves 127 domestic online games in July, including those by Baidu 9888.HK, Kingnet Network 002517.SZ, Giant Network 002558.SZ, Shenzhen Bingchuan Network 300533.SZ

** Baidu's HK stock up 4.5% to HK$91.9, highest since July 16

** Kingnet, Giant Network, Bingchuan Network gain between 0.9% and 1.9%; Tencent 0700.HK adds 3.8%

** YTD, NetEase HK stock jumps 58.7%, U.S. shares up 56.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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