Hang Seng Index rebounds 2% thanks to the recovery of game stocks

Investors continued to monitor the movements of shares of Chinese gaming companies listed in Hong Kong after pressure on those companies re-emerged.

The Hang Seng Index rebounded on September 10 after gaming stocks rebounded strongly. Photo: AFP

Shares of Chinese technology group Tencent, listed in Hong Kong, rose 2.08% in trading on September 10, while shares of mobile game developer NetEase also gained 3.14% after falling. long.

Previously, Tencent and Netease shares “evaporated” 8.48% and 11.03% respectively on September 9 after regulatory pressures. Chinese state media reported that both Tencent and Netease were on a list of game development companies summoned by Chinese authorities to a meeting. One of the main issues raised at the meeting was asking these companies to limit gaming time for children.

The South China Morning Post reported that Chinese authorities will extend the approval process for online games in this country.

End of trading day 10/9, cThe Hang Seng Index rose nearly 2% to 26,205.91 points, after falling more than 2% in the previous trading day.

Mainland China stocks closed slightly higher on September 10, with the Shanghai Composite up 0.27% to 3,703.14 and the Shenzhen Component up 0.499% to 14,771.87.

In Japan, the Nikkei 225 recorded a gain of 1.25% to close at 30,381.84 points, while the Topix index gained 1.29% to 2,091.65 points.

South Korea’s Kospi also gained 0.36% to close at 3,125.76, while the S&P/ASX 200 in Australia gained 0.5% to 7,406.60. Overall, the MSCI Asia-Pacific (excluding Japan) index rose 1.02%.

Wall Street last night saw all three major indexes drop. The Dow Jones Industrial Average lost 151.69 points to 34,879.38 while the S&P 500 fell 0.46% to 4,493.28. The tech-biased Nasdaq Composite Index slipped 0.25% to 15,248.25.

The currency market on September 10 recorded the US dollar index against other strong currencies falling to 92,515, from above 92.7 set at the beginning of the week. Meanwhile, the Japanese yen appreciated and traded at 109.92 JPY/USD, compared with 110.4 JPY/USD at the beginning of the week. The Australian dollar depreciated to 1 AUD for 0.7379 USD, from the usual 1 AUD/0.744 USD for the week.

Oil prices traded by Asian hours increased on September 10. Brent crude oil futures delivery rose 0.84% ​​to $72.05 per barrel while US crude oil futures rose 0.73% to $68.64 per barrel.