New book by Larry Connors Click here Improve your trading - See how
China Yahoo, one of the units of Alibaba, has contacted with a large-sized online game developer in the nation, expecting to dip toe into the online game market like Internet giant NetEase.com Inc. (Nasdaq: NTES), according to the source.
China Yahoo participated in the sixth China Digital Entertainment Summit Forum on July 16, 2008, revealed an online game company executive, noting that the company was possibly taking the opportunity to approach online game developers.
However, the aforesaid report has not been confirmed by the Hangzhou-based e-commerce company.
Mainly serving small-and medium-sized companies, Alibaba is facing great pressure from the sluggish global economy while its domestic peers like Sohu.com Inc. (NASDAQ:SOHU) and SINA Corporation (NASDAQ:SINA) are busy with their online game businesses, which still run smoothly in spite of the economic downturn.
In an e-mail sent to Alibaba employees on July 23, 2008, Jack Ma, chief executive officer (CEO) and chairman for the company, encouraged his employees to get prepared for the upcoming wintry period in the Internet industry.
On the other hand, with a clear business model, SINA would be able to stand the likely low season, said Charles Chao, president and CEO for the Internet company.
The Big Four portal websites in China saw their online advertising revenues hit new highs in the second quarter of 2008, benefiting from the Internet advertising surge on the eve of the Beijing Olympic Games.
NetEase.com reported total revenues of CNY 715.87 million for the April-June period, of which CNY 595.039 million were from its online game services. Sohu.com generated USD 47.896 million from its online game business, skyrocketing 1152% from a year earlier.
Meanwhile, Tencent Holdings Ltd. (SEHK: 0700) derived CNY 452.2 million of its total revenues from its online game services, a rise of 15.6% from the first quarter, thanks to the climbed revenues from QQ Games, QQ Fantasy and QQ Huaxia.
Latest statistics from technology media telecom researcher Analysys International, China's online gaming market size hit CNY 4.43 billion, or USD 645 million, in the second quarter of 2008, up 11.2% from a quarter ago and 65.9% from a year earlier.
Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA) led the Chinese online gaming market with a 17.9% share, followed by NetEase and Giant Interactive Group Inc. (NYSE: GA).
(USD 1 = CNY 6.86)
From www.hexun.com, Page 1, Friday, August 15, 2008 info@SinoCast.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
