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UPDATED: Shares in NetEase made a strong start in Hong Kong, where they began trading on Thursday. The Chinese company is the world’s second largest games firm by revenue.

The company is already listed in on the U.S.’s NASDAQ market. The secondary listing in Hong Kong gives it wider access to capital markets should the cold war between the U.S. and China lead to the delisting of Chinese firms. NetEase also raised $2.7 billion of fresh capital from the share sale, which saw the retail portion 360x subscribed.

Shares were offered in Hong Kong at HK123 apiece. By the lunchtime trading halt in Hong Kong, they had risen by 8% to HK132.90. They closed the day at HK$130, with the gain pared back to 5.7%.

Last year e-commerce giant Alibaba made a similar move to add a Hong Kong secondary listing, after a 2014 IPO in New York. Many other Chinese companies are said to be considering making similar moves after the U.S. Senate unanimously approved a bill to audit Chinese firms which trade on U.S. equity markets in American Depositary Receipt form.

One of those, China’s second largest e-commerce player JD.com is to raise some $3.88 billion. Its secondary offer was heavily subscribed. On Thursday evening the company said that it would price its shares at HK$226 each. Trading in the stock will begin in Hong Kong on June 18.

The strong demand for Chinese tech stocks in Hong Kong reflects a different, more Chinese investor base, who may not have had easy access to U.S.-listed ADRs.

Analysts also say that investors believe that Chinese tech companies were only slightly hurt by the coronavirus outbreak and that they will emerge from the economic downturn with their positions enhanced, compared with more traditional offline businesses.