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Lunar New Year Box Office Boom Lifts Movie Sector Shares in Hong Kong

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variety.com
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Patrick Frater Asia Bureau ChiefMovie industry shares soared in Hong Kong on Tuesday in response to the bumper revenues being earned at the mainland China box office over the Chinese New Year holidays.Leading the gains were Imax China and Alibaba Pictures, both of which have direct stakes in the box office boom.

Imax China stock climbed by 31% to HK$18.36 per share at the close of trading. Alibaba Pictures managed an even greater 35% jump to HK$1.44 per share.Mainland China stock markets remain closed until Thursday due to the continuing holiday period.

That means there was no trade in the stocks of other companies involved in the box office scramble: Huayi Brothers (“Yin Yang Master”), Enlight Media (“Endgame”), Wanda Film (China’s.

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