NetEase Shares Near Record High as China’s Gen Z Embraces Games

NetEase Inc. shares are closing in on their first new all-time high in over four years, as a wave of youthful consumerism adds to a host of positives for China’s game stocks.

Hong Kong-listed shares of the company behind hits like Eggy Party are roughly 7% away from their 2021 record. The stock ranks among the top gainers this year on indexes of Chinese tech and global game companies.

Chinese gamemakers are benefiting as younger consumers snap up creature comforts in a slowing economy. In addition, they’re getting help from an improved domestic regulatory and competitive environment, as well as ...