Citigroup: Tencent (00700.HK) has 3 games approved in October, while Netease (09999.HK) only has one.
Citigroup's research report believes that the approval of 113 domestic gaming and 15 imported gaming titles in October is merely a coincidence, and will not have any special interpretation or changes to the approval process. In this round of approvals, Tencent (00700.HK) had 3 games approved, while Netease (09999.HK) only had one. Citigroup believes that with this round of approvals, the total number of games approved by the mainland this year has reached 1,163, exceeding last year's 1,076. The bank expects that there will still be 2 batches of domestic and 1 batch of imported games released in the remaining time of the year, indicating that there is still a chance to reach 1,200 to 1,400 games.
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US stocks closed | The three major indices rose and fell unevenly, with Tesla soaring 22%, marking the largest increase in eleven years.
Economic data supports the market's bet on a routine 25 basis point rate cut by the Federal Reserve in November. The US stock market only saw a drop in the Dow, the first four-day consecutive decline since June, dragged down by IBM and Boeing. The Chinese concept index fell by 1.6% before halving its decline, while Li Auto Inc surged more than 1%.