What's Going On With NetEase Stock Rising Today

NetEase Inc NTES shares are trading higher by 4.42% to $71.64 Monday afternoon. Shares of several Chinese technology stocks at large are trading higher after Chinese President Xi Jinping committed to investing in core technologies.

What Happened?

Chinese President Xi Jinping, in his Sunday speech that laid out the Communist Party’s agenda for the country over the next five years, has struck an optimistic note on technological development, stressing the need to focus on winning battles in important core technologies.

“We will focus on national strategic needs, gather strength to carry out indigenous and leading scientific and technological research...Read More

See Also: As China Weakness, PC Market Downturn Take Toll On Semiconductor Sector Ahead Of Q3 Results, Analyst Recommends These Chip Stocks

According to data from Benzinga Pro, NetEase has a 52-week high of $118.19 and a 52-week low of $67.78.