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Virtual reality ( VR ) had its peak in 2023 alongside artificial intelligence ( AI ). They are already part of the technology of this new era.
Chinese gaming stocks rose on Wednesday to outperform a weak broader market, after Reuters reported China removed a gaming regulatory official.
Recently beaten-down China online gaming stocks rebounded on Wednesday in Hong Kong on news of a more conciliatory tone on the sector by the country's top gaming regulator.
As we prepare to ring in 2024, there is optimism that growth stocks could continue to rebound to greater highs next year. Interest rate cuts expected by April may benefit high-growth companies that had difficulty accessing capital last year.
A Chinese government regulator released new draft regulations targeting spending and engagement on online games on Friday, causing listed shares of major domestic gaming giants to crater amid fears of another crackdown on video games in one of the world's largest markets for the medium.
Shares of Chinese NetEase Inc. and Tencent Holdings Inc. fell sharply on Friday after authorities announced draft rules to crack down on spending and rewards in online gaming.
NetEase is a lesser-known company in the China KWEB Internet ETF, but has strong fundamentals and potential for recovery. The company is a global market leader in mobile gaming and has diversified into other areas such as music streaming and online education. NetEase's valuation is currently discounted, but has the potential for a modest lift as China's economy slowly heals and consumer confidence improves.
We have selected five high-flying non-U.S. companies that have strong potential for 2024. These are: NVO, NTES, TM, PDD, STLA.
In the 12-year cycle of animals in the Chinese zodiac, 2024 will be the Year of the Dragon. If equity investors get their way, it will be a green dragon.
Lorraine Tan, director of Asia equity research at Morningstar, discusses the outlook for the US economy, Federal Reserve policy and the implications for financial markets. She also talks about the opportunities she sees in China.