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| HSI1 | 24,963.23 | 0.00 | -- |
| HSCEI1 | 8,271.06 | 0.00 | -- |
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2026-07-23 10:09:28 The 7% decline in TENCENT (00700.HK)'s share price yesterday (22nd) may have been caused by market fund rotation back into AI hardware, renewed concerns that increased AI investment could weigh on profits, as well as panic and misinterpretation over a YoY downfall in 2Q26 gaming revenue, Citi published a report saying. The broker believed the current selling pressure is likely an overreaction, especially after the stock had posted a solid rebound in recent weeks. Although tracking data showed seasonal normalization in 2Q gaming revenue, the broker expected the reported revenue to be more resilient than market expectations, thanks to previously deferred revenue and strong PC game performance not captured by mobile tracking data. The broker forecast TENCENT's domestic gaming revenue to mount 8% YoY and fall 3.9% QoQ in 2Q26. Short-term volatility should not obscure the fundamental strength of TENCENT's diversified and globalized gaming business. Citi reiterated its Buy rating with a TP of HKD758 and viewed the latest pullback as a buying opportunity. ~ AASTOCKS Financial News Website: www.aastocks.com | |