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| HSI1 | 24,963.23 | 0.00 | -- |
| HSCEI1 | 8,271.06 | 0.00 | -- |
| Back Zoom + Zoom - Block Traded | |
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2026-07-23 10:15:45 CLSA issued a report on TENCENT (00700.HK), of which shares headed south yesterday mainly owing to reports that US Treasury Secretary Scott Bessent said the US would closely scrutinize open-source AI models from China to guard against intellectual property theft concerns. The broker noted that the US may launch investigations. Although Chinese models had previously been criticized for using model distillation to launch products faster and at lower cost, flagship models from TENCENT and BABA-W (09988.HK) have already far surpassed model distillation. Among them, TENCENT Hy3 has 295B parameters and can outperform GLM 5.1 with half the model size, meaning it can complete the same tasks at half the cost. CLSA mentioned that TENCENT and BABA-W are core holdings for the vast majority of global funds. Recent substantial capital inflows into memory and hardware stocks may exert pressure on the share prices of the two companies and sector performance. CLSA reiterated its High Conviction Outperform rating on TENCENT with a TP of HKD740. ~ AASTOCKS Financial News Website: www.aastocks.com | |