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Tencent Music Newsroom
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.
Tencent Music (01698.HK) and Weibo (09898.HK) have reached a comprehensive strategic cooperation.
Tencent Music (01698.HK)(TME.US) and Weibo (09898.HK)(WB.US) have announced a strategic partnership. The two parties will integrate SSE Select Resources Industries Index to collaborate in areas such as comprehensive publicity for artists' works, support for talented musicians, creative publicity for performances, and collaboration on chart data.
U.S. stock market close | The three major Indexes had mixed results, with the Dow ending a 10-day losing streak; Quantum Computing concept stocks corrected, with QUBT and Quantum down about 40%; FedEx surged more than 13% after hours.
① The Dow Jones slightly increased, while the S&P 500 Index and Nasdaq slightly decreased; ② Micron Technology dropped over 16%; ③ Nike rose more than 10% in Post-Market Trading.
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.
Express News | Zhao Yin International: Leading platform Internet companies still maintain business resilience, with Meituan, Tencent, Tencent Music, and Alibaba being the top choices.
Major banks rating丨Zhuhai International: Leading platform Internet Plus-Related companies still maintain Business resilience, with Meituan, Tencent, Tencent Music, and Alibaba as top choices.
On December 19, Gelonghui reported that despite facing some macro headwinds, leading platform Internet Plus-Related companies continue to maintain business resilience, benefiting from ongoing cost reduction and efficiency improvement, healthy profit growth, and stable shareholder returns. The current industry valuation is at a low point, with strong defensiveness, and potential profit upside factors for next year come from macro policy stimulation, overseas expansion opportunities, and advancements in AI business. The bank's sector preferences are local lifestyle services, advertising, gaming = value-added services, e-commerce, and cloud live streaming, with Meituan, Tencent, Tencent Music, and Alibaba as top picks. The bank stated that the performance of leading Internet Plus-Related platforms remained resilient in the third quarter.
"宏观经济的持续景气带动相关企业增长，同时伴随科技进步推动平台经济扩展。" 中信证券: 继续看好平台经济，首选美团 (03690.HK)、腾讯 (00700.HK)、腾讯音乐 (TME.US) 和阿里 (BABA.US)。
CMB International published a report stating that despite facing some macroeconomic headwinds, leading platform internet companies continue to maintain business resilience, benefiting from ongoing cost reduction and efficiency improvements, healthy profit growth, and stable shareholder returns. The current industry valuation is at a low point, strongly defensive, with potential profit upward factors next year coming from macro policy stimulus, overseas expansion opportunities, and progress in AI business. The firm's preference for sub-industries is local life services → advertising → Gaming = value-added services → e-commerce → cloud → live streaming. Top picks include Meituan (03690.HK), Tencent (00700.HK), Tencent Music (TME.US), and Alibaba.
Pu Yin International: Online music has become an important growth driver in the music market, with the platform's bargaining power gradually increasing.
The increase in penetration rates, subscription fee hikes, and expansion of content beyond music will drive the long-term growth of music streaming platforms in the future.
Before the Federal Reserve's decision, the rally of U.S. stocks faltered, the Nasdaq said goodbye to record highs, the Dow fell for nine consecutive days, Broadcom dropped over 4%, Chinese concept stocks rebounded against the trend, and Bitcoin reached a
The Dow Jones has seen its first nine consecutive declines since 1978; NVIDIA has seen four consecutive declines, while Tesla has risen over 3% against the trend, hitting new highs for three consecutive days. Chinese concept stocks rebounded nearly 2%, with PDD Holdings rising nearly 3% and Bilibili increasing over 4%. Salaries in the United Kingdom have grown faster than expected, with two-year UK bond yields rising 10 basis points in one day. The USD has rebounded; the Canadian dollar has hit a more than four-year low since the pandemic; Bitcoin surged over $0.108 million during trading, hitting a new historical high for two consecutive days. Crude Oil Product has fallen for two consecutive days, with US oil dropping more than 2% at one point; Gold has hit a new low for the week.
U.S. stock market closing | All three major indexes fell, with the Dow experiencing nine consecutive declines; Tesla rose over 3% to reach new highs, and Quantum Computing concept stocks surged again, with QUBT skyrocketing over 51%.
The Dow Jones has seen its first nine consecutive declines since 1978; NVIDIA has seen four consecutive declines, while Tesla has risen over 3% against the trend, hitting new highs for three consecutive days. Chinese concept stocks rebounded nearly 2%, with PDD Holdings rising nearly 3% and Bilibili increasing over 4%. Salaries in the United Kingdom have grown faster than expected, with two-year UK bond yields rising 10 basis points in one day. The USD has rebounded; the Canadian dollar has hit a more than four-year low since the pandemic; Bitcoin surged over $0.108 million during trading, hitting a new historical high for two consecutive days. Crude Oil Product has fallen for two consecutive days, with US oil dropping more than 2% at one point; Gold has hit a new low for the week.
U.S. Stocks Mining | Is the "NVIDIA Moment" coming? Broadcom surged nearly 40% in two days; Tesla continued to rise over 6% overnight, with the stock price aiming for 500 dollars.
Apart from Tesla and Broadcom, technology stocks such as Google, Marvell Technology, Amazon, and Apple reached new highs during yesterday's trading session.
Express News | The Music Copyright Association won the lawsuit against Tencent Music's "Cool Music" for infringement, receiving nearly 0.12 million in compensation.
Express News | Tencent Music established an information technology company in Quanzhou with a registered capital of 1.2 million.
Shares of US-listed Chinese Stocks Are Trading Lower Due to Stimulus Concerns and Disappointing Economic Data. The Biden Administration Plans to Raise Tariffs on Solar Wafers, Polysilicon and Some Tungsten Products.
Bernstein Maintains Tencent Music(TME.US) With Buy Rating, Cuts Target Price to $13
TME-SW(01698.HK):ENTERING THE ERA OF SLOW BUT STEADY MARGIN INCREASES
Futu Morning News | The Central Economic Work Conference has set the tone! Next year, the fiscal deficit rate needs to be increased; Broadcom soared over 15% after hours! Q4 profit exceeded expectations.
Inflation unexpectedly accelerates! In November, the USA PPI month-on-month growth rate reached the highest increase since June; AI transformation faces challenges! Adobe's performance forecast fell short of expectations, dropping more than 13% after the earnings report.
U.S. stock market close: The Nasdaq has fallen from historic Top Reversal, while the Dow has declined for the sixth consecutive day.
① The Nasdaq China Golden Dragon Index rose by 0.18%, with China Concept Stocks showing mixed performance; ② Google is collaborating with Samsung to develop a headset device, with the first product expected to be launched next year; ③ Apple is reportedly set to start producing a key wireless chip currently supplied by Broadcom next year; ④ Adobe fell nearly 14%, as the company's full-year performance guidance was below expectations.
Tencent Music-SW (01698.HK): Entering an era of slow but stable growth in profit margins.
We maintain a "Collect" rating and raise the Target Price to 51.44 HKD. The valuation level remains at 24.0 times the 2024 PE; considering the increase in the forecasted earnings per share and the company's share buyback, we have raised the Target Price. Tencent
The Central Economic Work Conference was held in Peking, and **** delivered an important speech.
The Central Economic Work Conference was held in Peking, where **** delivered an important speech, Li Qiang gave a summary speech, and ****, ****, Cai Qi, ****, and Li Xi attended the meeting.