Why Shares of NetEase Inc. Surged Today
Shares of Chinese video game publisher and e-commerce specialist NetEase Inc. (NASDAQ: NTES) jumped on Monday following reports that the company was increasing its spending on foreign products to sell to Chinese consumers. The stock finished the day up 10.4%.
NetEase's Kaola e-commerce business expects to buy about $11 billion worth of inventory from the U.S., Europe, and Japan over the next three years, with purchases from Australia and South Korea likely adding to that total. The company is looking to harness established international brands to grow its presence in the Chinese e-commerce market.
Image source: Getty Images.
Source: Fool.com
Netease Inc. ADR Aktie
84,00 €
-1,83 %
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