China Tech Stocks Rise as Gaming Approval Lifts Sentiment
- Video game shares rise after China ends freeze on approvals
- Shares swung between gains and losses before ending higher
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Chinese tech stocks edged higher on Tuesday after a volatile trade, as investors weighed optimism from Beijing’s approval of new video game licenses against worries over rising interest rates and Covid-19 lockdowns.
The Hang Seng Tech Index advanced 1.4% at the close, snapping four sessions of declines. Bilibili Inc. and GDS Holdings Ltd. were the best performers. The benchmark Hang Seng Index rose 0.5%, in line with a broader market rally.