Are Tencent Music Entertainment Group's (NYSE:TME) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
86Research Upgrades Tencent Music Entertainment to Buy, Price Target Is $14
U.S. stocks close: The Nasdaq returns above 0.02 million points as Apple reaches a new high with a market cap of 3.9 trillion.
① Tesla rose by 7.36%, leading the "Seven Giants"; ② Nasdaq China Golden Dragon Index has risen for three consecutive days; ③ American Airlines announced that flights have resumed running; ④ OpenAI has discussed developing a humanoid Siasun Robot&Automation.
Hong Kong stock market news for December 24: The three major US Indexes closed higher. HKEX has a half-day trading session due to Christmas.
① Consumer confidence in the USA has declined for the first time in three months. ② The three major US stock indices collectively closed higher on Monday, with most China Concept Stocks showing strength. ③ Musk criticized the Federal Reserve, claiming there are absurdly many employees under Powell. ④ The NASDAQ 100 Index is rebalanced, with the weight of Tesla, Meta, and Broadcom decreasing. ⑤ HKEX will have a half-day Trade session on Christmas Eve.
Hong Kong stock market morning report on December 23: Biden signed a bill to prevent the USA government from "shutting down". The performance of China Concept Stocks shows divergence.
① Biden signed an emergency funding bill to prevent a "shutdown" of the USA government. ② The USA's November core PCE price index rose 2.8% year-on-year, which was lower than expected. ③ The three major stock indexes in the USA opened lower and closed higher last Friday, while China Concept Stocks showed mixed performance. ④ NYMEX Henry Hub Natural Gas Futures rose more than 14% last week. ⑤ Federal Reserve's Goolsbee stated that interest rates may decline within 12 to 18 months.
Zhao Silver International: Remains Bullish on Internet Plus-Related platform economy, prefers MEITUAN-W and others.
CMB International released a research report stating that the preference for sub-sectors of the Internet Industry is local life services → advertising → games = value-added services → e-commerce → cloud → live streaming. The top picks are MEITUAN-W (03690), TENCENT (00700), Tencent Music (TME.US), and Alibaba (BABA.US). The report indicates that leading platform Internet companies continue to maintain business resilience, benefiting from ongoing cost-cutting and efficiency improvements, healthy profit growth, and stable shareholder returns. The current industry valuation is at a low point, highly defensive, and potential profit upward factors next year come from macro policy stimulation, overseas expansion opportunities, and progress in AI business.
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