The Hang Seng Index rose 261 points in the first half of the day, with a turnover of 90.9 billion yuan. Real estate and automobile stocks were favored.
The Federal Reserve's half-point rate cut boosted US stocks, with the Dow and S&P 500 indices reaching new highs. The Hong Kong stock market continued to rise in early trading. Hang Seng Index opened high by 56 points and the gains expanded, rising to 18,355 points at one point, up 261 points or 1.5% at midday to 18,275 points; the China Enterprises Index rose 92 points or 1.4% to 6,397 points; the Hang Seng Tech Index rose 65 points or 1.8% to 3,717 points. The total turnover of the market in the morning session was 90.958 billion yuan. In the technology sector, Alibaba (09988.HK) rose 2.5% to 87.8 yuan, while Tencent (00700.HK) fell 0.4% to
Shares of US-listed Chinese Stocks Are Possibly Trading Higher Ahead of Expectations That the People's Bank of China Will Cut Rates. Also, the Sector May Be Experiencing Strength After the Fed Cut Rates by 50 Basis Points.
Express News | Ishares China Large Cap ETF up 2.9%, Kraneshares CSI China Internet ETF up 3.6%
Express News | Alibaba up 4%, PDD Holdings up 3.7%, NetEase up 2.6%, Baidu up 3.2%
Express News | Li Auto up 3%, JD.com up 5.9%, NIO up 5.4%
Express News | U.S.-Listed Shares of Chinese Firms Rise Premarket as Domestic Stocks Close Higher After Fed Rate Cuts
Goldman Sachs: Mainland China's e-commerce participation in August increased by 8%, and Alibaba's DAU share remained stable at 41%.
Goldman Sachs released a research report, indicating that according to the statistics from QuestMobile, the total usage time of the top 400 mobile applications (APPS) in China increased by 6% YoY in August this year, faster than the 4% growth in July. The growth rate of e-commerce APPs reached 8%, slower than the 15% growth in July, while gaming APPs slightly declined by 1% compared to the same period last year. Specifically, user engagement on e-commerce platforms remains robust, with JD.com (09618.HK)(JD.US) and PDD Holdings (PDD.US) experiencing YoY growth in usage time of 24% and 16% respectively, while Alibaba's (0
The U.S. stock market hit a new high again, with Chinese concept stocks and cryptos surging! Waiting quietly for the "crucial moment".
After the overnight Dow Jones Industrial Average and S&P 500 index hit new highs in intraday trading, the Japanese stocks also opened strongly.
Tencent Music Entertainment Group (NYSE:TME) Shareholders Will Want The ROCE Trajectory To Continue
Top 3 Tech And Telecom Stocks That May Rocket Higher This Quarter
Tencent Music (TME.US) launches the 'Explore' global music promotion program with the first stop in Singapore.
Tencent Music (TME.US) announced the launch of its global music promotion project, "Discover Music", with the aim of promoting Chinese musicians and music works overseas. It will also engage in a series of music and industry exchange activities, including overseas performances, international exchanges in music creation, and discussions on future industry development. The project will be launched in Singapore from September 13th to 17th, featuring a variety of music activities such as live performances, creative camps, university visits, and industry forums. In addition, Tencent Music will also attend the Asia-Pacific Music Forum to explore new development opportunities in the music industry with professionals from around the world.
TME's Global Music Outreach Debuts In Singapore, Expanding Chinese Music Internationally
China Merchants Securities International: The stock prices of leading domestic internet platforms show resilience. Preferred choices are Tencent, Alibaba, and Bilibili.
China Merchants Securities International published a report stating that although the stock market has recently weakened overall, the stock prices of mainland leading internet platforms have still shown resilience. It is believed that this is due to the improvement of the competitive environment and the enhancement of profit prospects. After this quarter's performance, companies with large declines are still worth attention, such as PDD Holdings, Tencent Music, and Netease. These companies still have attractiveness in terms of business strength, market position, and valuation. The bank pointed out that the overall market position and profit capability of mainland leading internet platforms are still solid. Industry first choices: Tencent, Alibaba, and Bilibili, all given a "shareholding" rating, with target prices of HKD 474 and USD 126 respectively.
Express News | Market news: Tencent music has launched a global music expansion plan.
Tencent Music Entertainment Group Launches Global Music Outreach Initiative
China Merchants Securities raises the target price of Weimob Inc. (09899.HK) to 152 yuan, with a healthy outlook for long-term profit margin expansion.
China Merchants Securities issued a research report indicating that Tencent Music's (09899.HK) management stated that due to the current small market share, the future focus will be on expanding the online music user base, rather than prioritizing the increase of average revenue per paying user (ARPPU). The first half of the year saw good growth in online music business and an increase in profit margin, gradually approaching the level of industry peer Tencent Music-SW (01698.HK)(TME.US). It is expected that the long-term profit margin will maintain healthy growth. The first half of the year saw a 20% year-on-year decline in cloud music social entertainment business income, and a 42% decline compared to the second half of 2023, with the bank expecting.
GloRilla and Lola Brooke Performing AtNew York Fashion Week FestivalPowered by The Model Experience
Express News | Huawei, Zhoubright, and Dashi collaborate to discuss new technologies and solutions for smart parks.
Citigroup: tencent music-SW(01698) is expected to see a slowdown in revenue from paid users, but we believe it has defensiveness and sustainable profitability and revenue.
In the macro slowdown and the resilient situation of the music industry, Citigroup believes that Tencent Music is defensive, especially with improved profitability and stable revenue performance, which also seems sustainable.
Futu Morning News | Federal Reserve Board Director Waller: The time has come and he is open to a larger rate cut. The US election is heating up! The first debate of the "Hart" becomes the focus.
Goldman Sachs: The leadership of the Federal Reserve believes that a 25 basis point rate cut in September is the baseline scenario; Deutsche Bank: Non-farm 'cliff-like' turn negative is the beginning of an economic recession; Nasdaq fell 5.77% last week, Broadcom had its worst single-day performance in over 4 years.