Express News | Tencent Holdings: Repurchased 2.68 million shares on September 12, at a cost of 1 billion Hong Kong dollars.
Express News | Criminals use WeChat's million-dollar guarantee as a pretext to commit fraud. WeChat Security Center: Will impose graduated penalties on related accounts.
The Hong Kong-based research of "Da Hang" cited that Tencent (00700.HK) is expected to continue expanding its profit margin in the short to medium term.
HSBC Research published a report citing that Tencent (00700.HK) is expected to continue expanding its profit margin in the short to medium term, while maintaining investment in technology and using various leverage to withstand macroeconomic headwinds, especially in the advertising industry. The bank maintains a "buy" rating on Tencent with a target price of 475 yuan, bullish on Tencent's advantageous revenue mix in high-profit areas, sustained cost control and low valuation, as well as attractive overall shareholder returns. HSBC Research pointed out that although Tencent has largely realized the cost optimization benefits from underperforming businesses or mergers with overlapping teams, the bank believes that the shift in revenue mix towards high-profit divisions and continued cost control can
WeChat Pay: No international card transaction fees within the RMB 1000 limit.
The 13th Payment and Settlement Forum was held in Beijing. WeChat Pay, owned by Tencent (00700.HK) (TCEHY.US), announced new initiatives for foreign card services. These include: After foreign nationals in China register and activate WeChat Pay, they do not need to pay handling fees for international card transactions with a single transaction amount of 200 RMB or less. New users can also enjoy the "144-hour visa-free" period. Starting from the first transaction, they can make zero-handling-fee purchases within a quota of 1,000 RMB per day for a consecutive period of seven days. This promotion will last until the end of 2024. In addition, WeChat Pay continues to enhance payment options for foreign nationals in China.
Hong Kong Stock Connect Alibaba net inflow of 3.513 billion Hong Kong dollars.
There was a net inflow of funds into Alibaba (09988.HK), Tencent (00700.HK), and CNOOC (00883.HK) from the northbound Southbound, reaching 3.513 billion Hong Kong dollars, 0.162 billion Hong Kong dollars, and 23.06 million Hong Kong dollars respectively. There was a net outflow of funds from Meituan (03690.HK) and China Mobile (00941.HK) from the northbound Southbound, reaching 0.253 billion Hong Kong dollars and 0.114 billion Hong Kong dollars respectively. The highest net fund inflow in the Hong Kong Stock Connect (Shanghai) was for Alibaba (09988.HK) at 1.501 billion Hong Kong dollars, while the highest net fund outflow was for Meituan (03690.HK) at 0.543 billion.
Market Chatter: Tencent, Apple Negotiating Revenue Sharing for WeChat Mini Apps