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.
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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.
Intel, Moderna And Dollar General Were Among Top 10 Large Cap Losers In August: Are The Others In Your Portfolio?
U.S. stock market closing: the three major indexes have mixed gains and losses, with nvidia falling 11% over the past two days.
①S&P and Nasdaq fell for two consecutive days, while the Dow rose by 0.09%; ②Most large technology stocks closed lower, with Amazon falling by 1.66%; ③Berkshire Hathaway Class B shares continued to reach new historical highs; ④United States Steel: Thousands of jobs are at risk if it is not acquired.
US stocks closed: nvidia's market cap decreased by 2 trillion overnight, leading the Nasdaq to plunge 3% and becoming the weakest of the three major indices.
1. Nvidia's market cap evaporated by about 1.99 trillion yuan; 2. The PHLX Semiconductor Index fell by 7.7%, with all components going under; 3. Large technology stocks collectively declined, with Apple dropping by 2.72%; 4. Berkshire Hathaway's stock price continued to hit new historical highs.
U.S. stock market outlook | Tesla's pre-market trading rose nearly 1%, with August sales in China reaching the best performance of the year; Nvidia plans to expand software and datacenter offerings, providing AI one-stop services.
The Big Short on Wall Street: If the non-farm is strong enough, the laggards of the US stock market are expected to catch up; Informed sources said that WeChat and iPhone do not need to 'choose one out of two', but the 'apple tax' game is still ongoing.
US stocks anomaly | Tencent Music rose about 2.4% before the market opening and was included in Citigroup's list of favorite Chinese internet stocks.
On September 3rd, Tencent Music (TME.US) rose by about 2.4% in pre-market trading to $10.69. In terms of news, Citigroup published a research report stating that it is bullish on Chinese internet companies and listed a list of favored Chinese internet stocks. Tencent Music is included in the list, and Citigroup believes that it has a good defensive quality and its revenue growth may be more sustainable. Data shows that the performance of Chinese internet companies in terms of profits in the second quarter is generally better than their revenue performance. Citigroup believes that part of the reason for the lower-than-expected revenue is that companies have actively reduced subsidies and focused on improving the quality of investment returns, which in turn has supported more companies to achieve more
Express News | Tencent Music rose approximately 2.4% in pre-market trading and was included in Citigroup's list of favorite Chinese internet stocks.
Profitable, buyback more! Citibull is bullish on chinese internet plus-related companies
In the second quarter, among the 41 internet companies covered by Citigroup, 16 companies exceeded revenue expectations, while 30 companies reported earnings that exceeded expectations. Multiple companies also increased their share buyback efforts in the second quarter. Citigroup expects the profit prospects of internet companies to further improve in the second half of the year.