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| HSI1 | 26,572.46 | -500.57 | 232.79B |
| HSCEI1 | 9,397.96 | -201.10 | 90.03B |
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2025-11-14 15:44:56 Nomura's report covered TENCENT (00700.HK), of which 3Q results were solid, with revenue YoY growth beating expectations, thanks to strong growth in the online gaming business, especially international gaming, which was the highlight of the last quarter. Nomura maintained a target price of HKD757 and a Buy rating for Tencent. Tencent's 3Q capex was RMB13 billion, accounting for 7% of revenue, down 24% YoY and 32% QoQ, below the expected RMB24 billion. Management indicated in a conference call that the decline in capex was due to limited supply of AI chips, and therefore, they expected 2025 capex to miss the previous guidance target but beat RMB77 billion in 2024. ~ AASTOCKS Financial News Website: www.aastocks.com | |