Approvals fuel gaming stocks’ rise 
2019-07-31
Shares of game firms surged yesterday after the regulator approved 20 new products. China resumed approval for new games at the end of last year after a freeze since March 2018. 
Perfect World jumped 5.36 percent to close at 26.30 yuan (US$3.90). Kingnet surged the 10 percent daily cap. The Shenzhen index gained 0.48 percent.
Kingnet, a Shanghai-based developer, has reported a net profit decreased in the first half because of “a strict regulation environment.”
Many games have been awaiting approval. The new games include 17 mobile games, two webpage games and one PC-client game, said the State Administration of Press, Publication, Radio, Film and Television.
Chinajoy, the country’s biggest game show, will open in Shanghai on Friday and eSports Week event will be held.
