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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.
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.
"China ChatGPTs" struggle to attract customers.
Over a month ago, as Tencent officially launched the independent AIGC app 'Tencent Yuanbao', the 'BAT' finally gathered in the AI big model C-end product race track. In this AI application era, who can create the 'WeChat of the AI era' is highly anticipated.
Tencent Video has released a blockbuster for the summer.
Can the popular products continue?
BlackRock: Like emerging markets, it is expected that developed market central banks will adopt a "Higher for Longer" interest rate strategy.
BlackRock Investment Institute stated in a report on Monday that some emerging market central banks are pausing rate cuts due to concerns about inflation, and decision makers in developed markets may also find themselves needing to maintain higher interest rates for a longer period of time (Higher for Longer).
Tencent wants to invest money in the most critical areas.
They voluntarily withdrew or contracted many businesses.