BUZZ-NetEase Hong Kong shares hit over 4-year peak after Q1 results beat

Reuters
16 May
BUZZ-NetEase Hong Kong shares hit over 4-year peak after Q1 results beat

** Shares of Chinese internet and game services provider NetEase Inc 9999.HK jump 16.1% to HK$195.2, their highest since February 2021, and on course for a third consecutive session of gains

** Stock on track for the biggest one-day pct rise since March 2022 if gains hold; top pct gainer on Hang Seng Index .HSI and Hang Seng Tech Index .HSTECH, which fall 1% and 0.9%, respectively

** U.S.-listed stock NTES.O rose 14.6% on Thursday

** NetEase said its Q1 net revenues rose 7.4% y/y and net income rose 35.5% y/y

** Jefferies keeps "buy" rating and lifts PT of the U.S. shares to $131 from $120, after results and anticipating more new games

** Citi maintains "buy" and raises TP to $156 from $118, saying 1Q25 gaming revenue came stronger than expected

** YTD, Hong Kong shares up 38.4%, U.S. stock up 37.6%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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