Chinese Streaming Stocks & Sphere Entertainment Share Price Gain Big

News Snapshot:

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...