A woman takes a photo of a screen showing Black Myth: Wukong at an electronics market in Shanghai on August 20, 2024. Photo: VCG
The release of Chinese video game "
Black Myth: Wukong" immediately activated gaming sector investment, with the scale of eight exchange-traded funds (ETF) tracking game companies' stocks at the Chinese stock market surpassing 14 billion yuan ($1.97 billion), according to the Securities Daily, as industry insiders remain bullish on long-term investment potential of the sector.
According to the latest data, as of June 30, 2024, an ETF tracking anime and game companies of the China Securities Index (CSI) operated by China Asset Management has expanded to 6.38 billion yuan, and another anime and game-related CSI ETF operated by Guotai Asset Management Co ranked the second with the scale reaching 2.28 billion yuan.
As of Tuesday, subscriptions of the two ETFs have increased by 5.92 billion yuan and 1.99 billion yuan, respectively, from their original scales.
The release of the
Black Myth: Wukongon August 20, 2024, has ignited a global frenzy, surpassing sales of 10 million copies across all platforms by 9 pm on August 23. The surge has triggered a spending spree in various sectors, including retail, tourism, and consumer electronics like game consoles.
China Asset Management said that with the continuous improvement in the supply side, the country's gaming sector will usher in a year of rapid development, to be aided with new innovations in AI, and the sector will have greater long-term investment value in the future, according to the Securities Daily.
Guotai Asset Management Co also noted that the issuance volume of game publication license also witnessed marked rise, and the launch of new games is expected to fire up the growth of the gaming sector, said the report.
Dong Shaopeng, a senior research fellow with the Chongyang Institute for Financial Studies at the Renmin University of China, told the Global Times on Monday that video game development integrates digital technology, AI and computing power, which represent the potential of developing advanced productive forces and are increasingly favored by market investors.
