HK Stock Market Move | Game stocks rose in the morning session, with NTES-S (09999) rising over 13% after its earnings report, and XD INC (02400) rising over 10%.

In the early trading session, game stocks rose. As of press time, NTES-S (09999) rose by 12.64% to HK$134.6; XD INC (02400) rose by 10.43% to HK$23.3; KINGSOFT (03888) rose by 3.87% to HK$29.5; CMGE (00302) rose by 3.8% to HK$0.82; Tencent (00700) rose by 0.64% to HK$406. On the news front, game developers have successively disclosed their third quarter reports. NetEase's third quarter game revenue reached 20.2 billion yuan, a 5% increase month-on-month, with a 29% year-on-year and 30% month-on-month increase in PC game revenue. Long-standing IPs such as "Journey to the West 2," "Identity V," and "Endless" have reached new highs, while games such as "World of Warcraft" and "Hearthstone" have broken records in the Chinese market. Tencent's game business revenue in the third quarter achieved strong growth, with domestic market game revenue increasing by 14% year-on-year to 37.3 billion yuan, driven by games such as "Contract of Courage," "Honour of Kings," "Peacekeeper Elite," and "Dungeon & Fighter: Origins." Guoyuan pointed out that in the third quarter of 2024, the size of the Chinese game market reached 91.766 billion yuan, a 22.96% increase month-on-month and an 8.95% increase year-on-year. In October, 113 domestic game licenses and 15 import game licenses were issued, ensuring a continued supply of licenses. In terms of new releases, Tencent's "Pokmon: Unite" was launched on November 7th, G-bits Network Technology's game "Echoes of the Elysium" will be released on November 13th, and Kuaishou's "Endless Dream" will be launched on November 21st. The introduction of high-quality new games is expected to boost industry sentiment and drive continued growth in the game market size.