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Huawei's Potential Fee Shakeup Could Benefit Chinese Game Developers -- Market Talk
Huawei's potential fee shakeup could be a win for Chinese game developers, Morningstar analyst Ivan Su says in a research note. Huawei might lower its app store commission fee to 20% from the typical 30% for game developers and it is also nearing a deal to exempt Tencent's WeChat from paying any app store fees, according to a media report.
According to Goldman Sachs's prediction, the gaming industry environment has changed, which is not favorable for Netease. However, they are bullish on Tencent.
As industry regulatory focus shifts, Tencent, as "China's largest small game platform", may usher in a spring. Coupled with the initial results of Tencent's overseas investments, its international gaming business is showing strong momentum.
Hong Kong Shares Rebound 2.9% Amid Positive Sentiment
Hong Kong's Hang Seng Index extended early gains to close 2.9% higher at 18430.39. There could be some optimism among investors that more may be done by the Chinese authorities in 2H, IG market strate
NetEase's Share-Price Decline on Game Adjustments Looks Overdone, Jefferies Says -- Market Talk
NetEase's share-price decline following changes to the virtual economy system in massively multiplayer online role-playing game "Fantasy Westward Journey," looks overdone, Jefferies analysts Thomas Chong and Zoey Cong say in a research note.
Brokerage Focus: CMB International points out that China's internet-related performance in the first quarter as well as industry performance are in line with expectations. Pay attention to three main lines when selecting stocks.
The China internet plus-related sector's performance and industry 1Q24 results since the beginning of the year were reviewed by CMBI. After a short influx of funds and improved emotions had driven a rapid rise, the internet plus-related sector has seen some pullback, which is in line with the bank's earlier expectations. From a perspective of stock selection for the whole year, the bank recommends focusing on these three main lines of stock selection when interest rate trading has yet to show a trending launch, and liquidity remains tight: 1) The company has the ability to increase or maintain attractive shareholder returns, and key support comes from the quality of the company's fundamentals (business competitive advantage is stable, main business still has stable growth, and has stable profitability).
Top Gap Ups and Downs on Tuesday: QCOM, MU, NEE and More
Gaps can show signals that something important has happened to the fundamental or the psychology of traders that accompanies this market movement.
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