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Bloomberg
Imax China Holding Inc. led a rally in Chinese entertainment stocks after data showed local box-office revenue hit a record high for the Lunar New Year.
Ticket sales for the first five days of the Lunar New Year holidays starting Feb. 11 touched 5.7 billion yuan ($880 million), about 33% more than the same period in 2019, which was the previous record, according to Maoyan Entertainment, with Chinese films emerging as the top contributors.
Imax China surged by a record 31% in Hong Kong, compared with a 2% surges in Hang Seng Index. Alibaba Pictures Group rises 35% and Maoyan rise almost 10%, according to data compiled by Bloomberg.