Online game sector rises on positive signal
1Online game sector rises on positive signal.
A poster of NARUTO, a mobile game, is seen at a shopping center in Beijing.
[Photo provided to China Daily]
Shares of online game enterprises rose dramatically on Wednesday after Chinese authorities approved the release of dozens of new games, sending a positive signal to the country's gaming sector, industry analysts said.
The National Press and Publication Administration said on Tuesday it has approved 60 new games, following the year's first batch of approvals in April.
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The latest approvals include the games from Perfect World, Hero Entertainment and Migu Interactive Entertainment, but games from tech behemoths Tencent Holdings Ltd and NetEase Inc were not on the list.
Shares of online gaming and entertainment company Dasheng Culture surged by the 10 percent daily limit to close at 4.46 yuan (70 cents) on the Shanghai Stock Exchange, while Tencent's stocks jumped 6.47 percent to end at HK$391.4 ($49.9) on the Hong Kong bourse.