Online Gamers Snap Back in Hong Kong With More Wild Moves
- FingerTango and Digital Hollywood plunge Thursday, then jump
- Companies issued statements in response to price swings
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Two Hong Kong-listed online gaming companies that lost more than 60 percent of their value Thursday saw big gains in early trading Friday, another example of wild moves in the world’s fourth-biggest stock market.
While FingerTango Inc. and Digital Hollywood Interactive Ltd. fell as much as 80 percent and 76 percent Thursday, respectively, their shares rose as much as 60 percent and 19 percent on Friday morning. The firms issued statements late Thursday, with Digital Hollywood saying some shareholders had sold pledged stock to meet loan obligations. FingerTango said it couldn’t explain the fall.