HK Gaming Stocks Rally; NetDragon Up Over 4% as July Market Revenue Hits RMB31.1 Billion
Hong Kong-listed mobile gaming stocks rallied, with NetDragon rising over 4%, XD Inc. over 3%, and Boyaa Interactive and Kingsoft nearly 3%, while Tencent gained over 2%. The surge came as China's July gaming market revenue reached RMB31.098 billion, up 6.92% year-on-year, with mobile gaming revenue climbing 8.03%.
Hong Kong-listed mobile gaming stocks rallied collectively. NetDragon (00777. HK) rose over 4%, XD Inc. (02400. HK) gained more than 3%, Boyaa Interactive (00434. HK) and Kingsoft (03888. HK) advanced nearly 3%, and Tencent Holdings (00700. HK) was up over 2%.
The summer months of July and August are traditionally the peak season for the gaming industry. In July, the actual sales revenue of China's domestic gaming market reached RMB31.098 billion, up 6.92% year-on-year, while revenue from the mobile gaming market grew by 8.03%.