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Market Chatter: Apple Pressing Bytedance, Tencent to Eliminate Links to External Payment Platforms
Deutsche Bank: Tencent is a "safe haven with a catalyst".
Morgan Stanley predicts that Tencent's gaming business is expected to achieve high growth in Q2 of this year and become a leading indicator for the company's future profits exceeding expectations. Morgan Stanley set a target price of HKD 450 for Tencent's Hong Kong stocks, which is 25.6% higher than the Friday closing price.
Northbound trading news: Net sales of 1.896 billion, tracker fund of Hong Kong (02800) suffers another round of selling, with a total net selling of 2.9 billion Hong Kong dollars for the day.
On August 2nd, the Hong Kong stock market saw a net sell-out of 1.896 billion Hong Kong dollars by the Northern Fund, with a net sell-out of 1.64 billion Hong Kong dollars through the Shanghai-Hong Kong Stock Connect and a net sell-out of 0.256 billion Hong Kong dollars through the Shenzhen-Hong Kong Stock Connect.
Illustration | Southbound funds increase their positions in Xiaomi, China Construction Bank, and Tencent against the trend.
Today, southbound funds net sold HKD 1.896 billion of Hong Kong stocks. Among them, the net purchase of Xiaomi was HKD 0.49 billion, China Construction Bank Corporation was HKD 0.335 billion, Tencent was HKD 0.306 billion, CNOOC was HKD 0.211 billion, and China Mobile was HKD 0.208 billion. Tracker Fund of Hong Kong was net sold for HKD 2.923 billion, Hang Seng H-Share Index ETF was net sold for HKD 0.799 billion, HSBC Holdings was net sold for HKD 0.501 billion, China Shenhua Energy was net sold for HKD 0.354 billion, Meituan was net sold for HKD 0.252 billion, and CSOP Hang Seng Tech Index ETF was net sold for HKD 0.212 billion. According to statistics, southbound funds have net purchased Tencent for 7 consecutive days, totaling HKD 5.05352 billion; net purchased Xiaomi for 6 consecutive days, totaling HKD 1.06829 billion; and net purchased CNOOC for 5 consecutive days.
In August, 15 online games were approved for import, including Tencent (00700) and NetEase (09999).
On August 2nd, the State Administration of Press and Publication released information on the approval of 15 imported online games for August.
Express News | Apple Pressures Tencent and Bytedance Over App Fees in China- Bloomberg News
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