NetEase Inc NTES shares are trading higher by 2.4% to $106.00 during Friday's session. Shares of Chinese stocks are trading higher after China cut the minimum down payment on mortgages as part of stimulus measures.
Netease operates in the online gaming and entertainment sectors, which are sensitive to changes in consumer sentiment and disposable income.
When people have more financial flexibility due to favorable housing policies, they may be more inclined to spend on leisure activities like gaming and streaming services, potentially boosting Netease's revenue.
What Happened?
China’s financial regulators made headlines this week with a series of moves targeted at boosting the troubled property market.
Notably, they have slashed down-payment requirements for both first-time and second-time home buyers and concurrently lowered interest rates on existing mortgages.
The announcement, jointly made by the People's Bank of China and the National Administration of Financial Regulation, stipulated that the minimum down payment would...Read More
According to data from Benzinga Pro, NTES has a 52-week high of $110.82 and a 52-week low of $53.09.
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