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Tencent Music Newsroom
Tencent (00700.HK) invests in the Thai entertainment platform GMM Music with the goal of going public within the next two years
Thai entertainment platform GMM Music announced at the beginning of last month the introduction of Tencent (00700.HK) and Tencent Music (01698.HK) as shareholders, holding about ten percent, and receiving an investment of 70 million US dollars. The group's Chief Marketing Officer, Fahmai Damrongchaitham, stated in a media interview that there are plans to go public as soon as possible this year or next year, and also mentioned that introducing Tencent is an important milestone before listing.
Express News | GMM Music, the Thai music giant invested by Tencent, aims to go public as early as this year.
After three days of bloodbath, Chinese concept stocks cost Wall Street billions! The Archegos liquidation case has resulted in Bill Hwang being convicted of fraud and market manipulation.
Three years ago, the Archegos crisis caused the market cap of Chinese concept stocks, such as Baidu, Tencent Music, and VIPShop, to evaporate more than 30 billion US dollars, and also caused investment banks such as Goldman Sachs and Morgan Stanley to suffer losses of billions.
U.S. stocks surged in anticipation of the earnings season, with Citigroup and Bank of America hitting historic highs. Baidu rose more than 8% overnight, marking the largest closing gain since February 2023.
Several major banks reached record highs in stock performance, with Citigroup up nearly 3%, Bank of America and Goldman Sachs up over 2%; Corning, the 'low-key winner' of the AI boom, jumped nearly 16% in two days, with a nearly 50% increase in the year; institutions are bullish on semiconductor equipment, with Applied Materials, Lam Research, and KLA Corp all seeing increases of over 40% this year.
Spotify Takes the Music Industry Market Cap Crown in Omdia's Second Quarter Music Industry Share Review
New analysis from Omdia has revealed that Spotify overtook Universal Music Group (UMG) to become the biggest music industry company in market capitalization terms in the second quarter of 2024. According to the Omdia's Music Industry Sharewatch, 2Q24, Spotify's market cap at the end of June stood at $62.5bn compared with $53.7bn for UMG. Spotify's market cap increased 18.2% from $52.8bn at the end of the first quarter, while UMG's edged down 1.5% from $54.5bn.
Shares of US-listed Chinese Stocks Are Trading Higher Possibly Ahead of China's CPI and PPI Data Expected Later Today.
Shares of US-listed Chinese Stocks Are Trading Higher Possibly Ahead of China's CPI and PPI Data Expected Later Today.
Express News | PDD Holdings Down 1.8%, NetEase Down 1.3%, Baidu Down 0.9%
Express News | Li Auto Down 2.0%, JD.com Down 1.8%, NIO Down 1.5%, Xpeng Down 4.3%
Express News | Ishares China Large Cap ETF Down 0.6%, Kraneshares CSI China Internet ETF Down 0.9%
Express News | Li Auto Down 1.6%, NIO Down 1.3%, Xpeng Down 3.5%
Express News | PDD Holdings Down 1%, Alibaba and JD.com Fall 1.1% Each
Express News | U.S.-Listed Shares of Chinese Firms Fall Premarket After Domestic Stocks Close at Over Four Month Low
Hong Kong stocks fell 275 points, with shipping and mainland real estate stocks dropping and consumer stocks remaining weak.
Market watching US inflation data. US stock futures are soft, Hong Kong stocks fell today. The Hang Seng Index opened low by 131 points and the decline expanded. It once fell by 346 points and was as low as 17,453 points. It fell 275 points or 1.6% throughout the day, closing at 17,524 points; the National Index fell 97 points or 1.5%, closing at 6,284 points; and the Hang Seng Technology Index fell 30 points or 0.8%, closing at 3,566 points. The total turnover of the market for the day was 89.31 billion yuan, with a net inflow of 2.156 billion and 2.045 billion yuan for the Shanghai and Shenzhen-Hong Kong stock connects.
U.S. stocks closed higher as non-farm payroll report boosted expectations of interest rate cuts. The three major indexes all rose, with the S&P and Nasdaq hitting new highs.
①The three major indices collectively rose, with S&P and Nasdaq hitting a new closing high; ②Most large technology stocks rose, with Meta rising nearly 6%; ③China concept stocks were generally down, with the Nasdaq Golden Dragon Index falling 2%.
Express News | Ishares China Large Cap ETF Down 2%, Kraneshares CSI China Internet ETF Down 2.3%
Express News | PDD Holdings Down 1.5%, NetEase Down 2.8%, Baidu Down 1.7%
Express News | U.S.-Listed Shares of Chinese Companies Fall as China Stocks Close at 4-1/2 Month Low
U.S. stock market preview: Heavyweight news! Non-farm data exceeds expectations, and the three major equity index futures jump; Fed "top three": there is still a long way to go to maintain the 2% inflation target.
The US earnings season will kick off next week, putting the US stock market to the test; the increase in US currency supply indicates a reversal of the concentration trend in the US stock market, and mid-small cap stocks may have opportunities; over 1 million chips will be shipped! Nvidia's sales in China are expected to reach $12 billion this year.
This week's bull stock in the US | Electric vehicle stocks collectively soar! Tesla's rise exceeded 24%, Ideanomics rose nearly 16%; Broadcom rose nearly 8%, and received the layout of "Congress Mountain Stock God" Pelosi.
This week, the Dow Jones Industrial Average rose by 0.48% to close at 39,308 points; during the same period, the S&P 500 index rose by 1.4% to close at 5,537.02 points; and the Nasdaq index rose by 2.57% to close at 18,188.3 points.
Tencent Music Likely to Report 2Q Margin Expansion -- Market Talk
0334 GMT - Tencent Music Entertainment is likely to post a stronger 2Q gross profit margin, Jefferies analysts Thomas Chong and Zoey Zong say in a research note. The expected margin expansion is likel