What's Going On With NetEase Stock Tuesday?
NetEase, Inc (NASDAQ: NTES) stock is trading higher Tuesday as China ratified 105 domestic games following recent industry restrictions triggering an $80 billion market slide.
The Chinese regulator-approved titles included games from gaming giants Tencent Holdings Ltd (OTC: TCEHY) and NetEase.
Last week, the National Press and Publication Administration (NPPA) implemented fresh guidelines. These regulations impose spending limits for adult players, prohibit specific in-game rewards, ban mandatory player-versus-player matches, and restrict content that breaches national security.
These rigorous actions introduced before Christmas brought back recollections of the extensive crackdown on the tech sector in 2021. That crackdown had a widespread impact on multiple industries, such as e-commerce, entertainment, and online education.
NetEase stock gained over 20% year-to-date versus SPDR S&P 500 (NYSE: SPY) at 25%.
Price Action: NTES shares are trading higher by 4.49% at $91.57 on the last check Tuesday.
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article What's Going On With NetEase Stock Tuesday? originally appeared on Benzinga.com
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
