HK Stock Market Move | Game stocks lead the way, and in March, game licenses were regularly issued. Institutions say that digital games are currently not affected by tariffs.

In terms of stock performance, game stocks led the gains. As of press time, NTES-S (09999) surged 10.36% to HK$149.2; IDREAMSKY (01119) rose 6.85% to HK$0.78; IGG (00799) increased by 4.64% to HK$3.16; XD INC (02400) went up by 1.9% to HK$29.5; Tencent (00700) rose by 1.75% to HK$443. On the news front, on March 21, the National Press and Publication Administration issued 129 domestic game licenses and 5 imported game licenses, marking a record high for the number of domestic licenses issued in a single month. CMSC pointed out that since 2025, domestic and imported game licenses have been steadily issued on a monthly basis. As of March, a total of 362 domestic licenses and 21 imported licenses have been issued this year, a significant increase compared to the same period in 2023, which is expected to boost confidence in the game industry market. China Securities Co.,Ltd. stated that due to digital games not being included in the scope of the current US tariff measures (excluding console gaming hardware), they are currently not affected by tariffs. In addition, as a form of entertainment and consumption for users, the domestic demand for games is strong. In January and February this year, the monthly growth rates of the domestic game market were 28% and 12% respectively. In terms of game licenses, the number of domestic licenses issued from January to March this year reached 362, an increase of around 10% year-on-year, indicating a high level of domestic demand and overall prosperity in the industry.