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Bocom Intl maintains a "buy" rating on Tencent (00700) with a target price of HKD 457.
Bocom intl estimates that mobile game revenue will increase by 11% YoY in 2024, while PC game revenue may decrease by 4% due to the high base of 'DnF', and advertising revenue is expected to maintain a growth rate of 16% throughout the year.
Brokerage Focus: Bocom Intl maintains a buy rating on Tencent (00700), expecting a year-on-year increase of 6% in gaming revenue in the second quarter.
Jingu financial news | bocom intl issued a research report, expecting Tencent (00700) game revenue in Q2 to increase by 6% year-on-year, slightly higher than the previous forecast of 5%. 1) Mobile games: domestic/overseas mobile game revenue growth accelerated, with year-on-year growth of 31%/47% in Q2, compared to 9%/33% in Q1. The bank estimates that domestic mobile game revenue in Q2 will increase by 8% year-on-year, accelerating season by season in the second half of the year, while overseas mobile game revenue will increase by 22% year-on-year. 2) PC games are still affected by the high base of Dungeon & Fighter last year, and it is expected that Q2 revenue will decrease by 6% year-on-year. The bank expects advertising to maintain its industry-leading momentum: maintaining Tencent's Q2 advertising revenue growth.
S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
CapitalVue ADR Statistics | August 9th
HSI ADR rose and closed at 17,066.85, up 175.02 points or 1.04% from the Hong Kong market close when calculated proportionally.
Zhitoon Hong Kong Stocks Analysis | Calm on the Surface, but Strong Undercurrents Are Surging. The Market Explores the Potential of Consumerism.
The Hong Kong stock market continues to perform steadily, up 0.08%.
Hong Kong stocks can't stop falling.
Will it be a safe haven for global capital?
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