Why Bilibili and NetEase Shares Are Trading Higher Today

  • XD Inc has won a publishing license for its title "Party Star" in one of China's first approvals of a game since July last year, Reuters reports.
  • The National Press and Publication Administration soon looked to publish a list of games it has granted licenses.
  • Also Read: NetEase Stock Plummets As China Limits Gaming Time For MinorsTencent, NetEase's Latest Restrictions Could Impact Apple, Activision Blizzard: Bloomberg
  • NetEase Inc NTES and Bilibili Inc BILI were some of the significant Chinese gaming stocks.
  • Chinese regulators stopped approving game monetization licenses in July 2021 to pull the plug on a growing teenager addiction to what it once described as "spiritual opium."
  • China had previously suspended gaming approval in 2018 for nine months.
  • Price Action: BILI shares traded higher by 12% at $28.76 on the last check Monday. NTES shares traded higher by 4.14% at $96.89.

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