Chinese Streaming Stocks & Sphere Entertainment Share Price Gain Big

Chinese music streaming stocks continued their upward trajectory this week as trade tensions between Washington and Beijing showed signs of easing. Netease Cloud Music rose 12.1% to 302.40 HKD ($38.55), bringing the Chinese music streamer's July gain to an impressive 25.5% and its year-to-date improvement to 164.8%. Tencent Music Entertainment (TME), China's leading music streaming company, rose 8.3% to $21.43, valuing the company at $36.8 billion and bringing its year-to-date increase to 71.9%. Cloud Music and TME shares have both benefited from solid first-quarter results and growing consumer interest in music subscriptions. Chinese stocks in general received a boost this…