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Real-time News
The yield on Japans 40-year government bonds rose to 3.895%, a record high.On January 19th, Nomura issued a research report stating that it expects Tencents (00700.HK) revenue to grow 12% year-on-year to RMB 193.5 billion in the last quarter, largely in line with market expectations. Nomura also expects Tencents non-IFRS net profit to increase 15% year-on-year to RMB 63.9 billion, 3% lower than the latest market forecast; due to a 4.2 percentage point increase in gross margin, the non-IFRS operating profit margin is expected to rise 0.7 percentage points to 35.2%. The bank also expects the operating profit margin to remain around 37.2% in fiscal year 2026. The report suggests that Tencent may follow ByteDances lead and more actively utilize GPU resources in third-party data centers to train its Tencent Mixed-Model to address the shortage of advanced chips, and believes the company will increase its investment in AI. Nomura maintains its "Buy" rating on Tencent and continues to give it a target price of HKD 775.On January 19, Snowman Group stated on its interactive platform that the company has supercritical carbon dioxide compressor products, which are currently mainly used in the heat pump field, and no products are currently directly applied to supercritical power generation projects.On January 19th, CICC issued a research report stating that Luk Fook Holdings Limited (00590.HK) exceeded expectations in its third quarter of fiscal year 2026, ending December 31st. Luk Fooks retail value increased by 26% year-on-year, with retail value in Mainland China, Hong Kong, Macau, and overseas regions increasing by 26% and 20% respectively. Same-store sales in Mainland China (self-operated/branded stores), Hong Kong, Macau, and overseas regions increased by 7%, 31%, and 16% respectively. CICC maintained its 2026 and 2027 earnings per share forecasts of HK$2.7 and HK$3.02, respectively. The current share price corresponds to a P/E ratio of 10x and 9x for 2026 and 2027, respectively, and maintains its "Outperform" rating. Considering the valuation increase brought about by the improved industry outlook, the target price was raised by 12% to HK$34.31, corresponding to a P/E ratio of 13x and 11x for 2026 and 2027, respectively, representing a 25% upside potential.South Koreas Blue House: South Korea and Italy signed a memorandum of understanding on cooperation in the chip industry, covering the field of artificial intelligence.
