Chinese Internet and solar names, many of them among the standouts of the 2013/2014 tech rally, are heading into the close with steep losses after the Chinese government reported exports fell 18.1% Y/Y in February (much worse than expected).
KongZhong (KONG +7.4%) shares continue to run as the company announces that it will conduct a second closed beta of Guild Wars 2 in China, starting Sept. 17.
Although no definitive launch date for the game has been set, Kongzhong's exclusive publishing rights to the game could be very valuable. Guild Wars 2 has taken the crown as the all-time fastest-selling MMORPG in the West (3M copies in 9 months). The game's developer, ArenaNet, expects Guild Wars 2 to “experience rapid growth once it releases in China, where the player-base has the potential to exceed that of the West.”
KongZhong Corp is a provider of WVAS and mobile games to mobile phone users and a wireless media company providing news, content, community and mobile advertising services through its wireless Internet sites in the PRC.