SHANGHAI: Tencent Holdings Ltd surged more than 5%, joining the rest of China’s gaming industry in a rally after regulators approved the country’s first batch of new titles in more than eight months.

       The National Press and Publication Administration published a list of 45 domestic titles on its website late Monday, confirming an earlier Bloomberg News report.

       While leaders Tencent and NetEase Inc were noticeably absent from a line-up of mostly casual games, the long-awaited resumption in licensing quelled investors’ worst fears about Beijing’s intentions for the gaming sector, which had come under fire for encouraging addiction and undesirable behaviour among youths.

       Analysts expect Tencent and NetEase to eventually get games approved. During a previous major suspension in 2018, Tencent was also excluded from the first crop of licensed titles.

       Tencent gained the most in about three weeks in Hong Kong on an intraday basis.

       Video and game streaming service Bilibili Inc soared as much as 15%, while NetEase gained more than 6%.

       Video platform DouYu International Holdings Ltd rose 2.4% in US trade.

       “The resumption of game approval is a positive development to China’s games industry,” Citigroup analyst Alicia Yap wrote in a note. — Bloomberg