February 23rd, 2010
Sector Snap: China video game stocks mostly down (AP)
AP – Shares of several Chinese video game companies traded slightly lower Tuesday despite a report from an analyst that said game companies, particularly ones that focus on casual online games, performed well during the Chinese New Year.
The holiday trend “should favor the companies with deeper casual games portfolios, which certainly includes Tencent and Shanda Games,” wrote Brean Murray Carret & Co. analyst Andrey Glukhov in a research note.
U.S.-traded shares of Shanda Interactive Entertainment Inc. slipped $1.04, or 2.2 percent, to $45.87 in afternoon trading. A Shanda-controlled spinoff called Shanda Games saw its stock edge up 8 cents to $8.50. …
