BPTENCT@EC2607B

Tencent records bearish block trade as shares drop over 3.6%

Tencent Records Large Block Trade as Share Price Dips to HK$518

WeChat Payment Transaction Data Continues to Rise During the Spring Festival

Tencent to participate in Pocket Gamer Connects Summit in San Francisco

Activision to shut down Call of Duty: Warzone Mobile servers in April, favoring Tencent's CoD Mobile

Tencent Holdings is expected to announce latest share buyback after market close.

UBS Report: AI Agent Adoption to Accelerate, Favoring Tencent and Peers

Tencent shares drop over 3% in early trading amid US market weakness and tariff concerns

Tencent Gaming Business Scores Record Sales Amid Global Strategy Shift

Moonshadow Completes Over $700 Million in Funding and Releases K2.5 Model

Tencent ramps up AI infrastructure investment to compete in the 'Post-DeepSeek Era'.

US 10% temporary global import surcharge effective February 24

Potential Trump-Xi meeting in April may ease tech restrictions.

Nintendo to host Switch and Pokémon related events on February 24.

Tencent ADRs maintain gains in intraday trading as market digests Lunar New Year data and overseas contraction news.

Tencent Holdings Expected to Go Ex-Dividend on May 19, Maintaining Annual Payout Tradition

Federal Reserve FOMC to announce interest rate decision on March 18, impacting global risk asset pricing.

League of Legends LCK Cup 2026 Finals to be held at Kai Tak Arena in Hong Kong

World of Warcraft: Midnight expansion expected to release

China steers AI market with discipline, favoring tech giants like Tencent

DAISHOMICROLINE

CHERISH SUN

MOBI DEV

ADD NEW ENERGY

PUTIAN COMM

ELIFE HLDGS

NANFANG COMM

MODERN LAND

DIMMI LIFE HLDG

VICO INTL HLDGS

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On February 24, 2026, Beijing time, the Hong Kong stock market collectively weakened in the afternoon, with all three major indices adjusting high and falling more than 2%. The Hang Seng Tech Index led the decline, dragged down by a pullback in AI themes. Technology stocks generally fell, with major stocks such as Tencent Holdings, Alibaba, and Meituan showing weak performance. Funds shifted towards defensive stocks and individual stock speculation, with Aito rising sharply against the trend due to positive acquisition news. On the macro level, the market is closely monitoring liquidity and the recovery of local consumption data, with investment sentiment leaning towards caution

- The Hong Kong stock market experienced a significant downturn, with major indices falling over 2% led by the Hang Seng Index which dropped 2.01%.  
- Key sectors such as internet and retail reflected negative sentiment, influenced by a retreat in AI stocks, highlighting a broader market adjustment.  
- Notable individual stock movements included significant increases for certain companies while others like Tencent and Alibaba faced declines amid increased market caution.

Market Heartbeat

TENCENT

KUAISHOU-W

BABA-W

JD-SW

BIDU-SW

MNSO

MEITUAN

HAIDILAO

YUM CHINA

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

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The short selling amount in the Hong Kong stock market reached HKD 20.91 billion in the half-day session, accounting for 18.8% of the total shortable stock turnover of HKD 111.23 billion. The previous day was 23%. The main shorted stocks include CSOP HS TECH with a short selling ratio of 36.5% and a short selling amount of HKD 1.69 billion; TRACKER FUND with a short selling ratio of 21% and a short selling amount of HKD 1 billion; MEITUAN-W with a short selling ratio of 32.7% and a short selling amount of HKD 980 million; TENCENT with a short selling ratio of 9.7% and a short selling amount of HKD 850 million; and China Ping An with a short selling ratio of 42.2% and a short selling amount of HKD 730 million

AASTOCKS

CSOP HS TECH

TRACKER FUND

The short selling in Hong Kong stocks for half a day reached HKD 20.91 billion, accounting for 18.8% of the total turnover of shortable stocks

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On February 24th, the Hong Kong stock market's midday review showed a collective pullback in the morning session, with the three major indices experiencing a unilateral adjustment. The Hang Seng Index fell by 1.93%, and the Hang Seng TECH Index dropped by 2.36%, leading the market decline. Risk aversion sentiment increased, causing technology heavyweight stocks to weaken across the board, with Meituan -W down 4.76%, leading the blue-chip decline, and Tencent Holdings down 3.44%. The internet, retail, and catering sectors were generally under pressure, but YUM CHINA rose 1.98 against the trend. In terms of individual stocks, KNOWLEDGE ATLAS surged by 20.89%, and KB LAMINATES rose by 11.09, driven by positive earnings expectations. Market focus has shifted to macroeconomic data and liquidity in the capital market

- On February 24, Hong Kong's stock market showed a notable downturn with the Hang Seng Index closing at 26,560.57, down 1.93%. 
- Sector performance was broadly negative, particularly in technology and retail, with major companies like Tencent and Alibaba seeing significant declines amid rising risk aversion and concerns over macroeconomic conditions. 
- Investors are closely monitoring economic indicators such as retail sales and unemployment to gauge the recovery potential of the Hong Kong economy.

KB LAMINATES

KNOWLEDGE ATLAS

GIGADEVICE

Shandong Molong

KINGBOARD HLDG

Meituan

FI2 CSOP HSI

FL2 CSOP HSI

FI CSOP HSI

Hang Seng TECH Index

Hang Seng Index

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

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The Hang Seng Index closed at 26,558 points, down 523 points or 1.9%; the Hang Seng Technology Index reported 5,258 points, down 127 points or 2.4%. Major stocks such as Meituan, Ping An, and Tencent all experienced declines, with Meituan down 4.8%, Ping An down 4.2%, and Tencent down 3.4%. Some stocks like WH Group, Hang Lung Properties, Cheung Kong Infrastructure, Sinopharm, and Kwan Hung Laminates reached new highs

Tencent

Tencent Holdings Limited

PING AN

WH GROUP

China Southern Hang Seng ETF

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

ChinaAMC Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

ChinaAMC Hang Seng ETF

The Half-Day Report: The Hang Seng Index fell by 523 points; the Hang Seng Technology Index dropped by 127 points. Meituan fell over 4%, Ping An fell over 4%, Tencent fell over 3%. WH Group, Henderson Land, Cheung Kong Infrastructure, Sinopharm, and Kwan Hung International Holdings reached new highs

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On February 24th, during the Hong Kong stock market, the three major indices collectively weakened, with the Hang Seng Tech Index leading the decline, down 2.26%. The internet and retail sectors were under pressure, and market risk aversion increased, with Tencent Holdings falling 3.16% and Alibaba dropping 2.50%. The communication equipment sector showed mixed performance, with YOFC rising against the trend by 3.84%. In terms of individual stocks, KNOWLEDGE ATLAS surged 13.57% due to the release of its flagship model, while Jiantao's laminated board rose 11.19% on positive earnings expectations. Investors are closely watching Hong Kong's retail and unemployment rate data

- On February 24, Hong Kong stocks experienced a decline as profit-taking pressures emerged after reaching recent highs, with the Hang Seng Index down 1.65% at 26,634.12 points.  
- Notable declines were observed in the tech sector, led by Tencent, Kuaishou, and Meitu, while the retail sector also suffered due to external market influences.  
- Investors are closely monitoring economic indicators such as retail sales and unemployment rates to gauge local consumer recovery, impacting market momentum and liquidity expectations.

MEITU

BYD ELECTRONIC

SHANDONG MOLONG

YOFC

Hong Kong stock market intraday | The Hang Seng Index fell 1.65%, the Tech Index fell 2.26% leading the decline, KNOWLEDGE ATLAS surged 13.57%, YOFC strengthened against the trend

NPSNY

Wall Street Zen downgraded Naspers (OTCMKTS:NPSNY) from a "buy" to a "hold" rating. Other analysts have mixed views, with Zacks upgrading it to "hold" and Barclays maintaining an "overweight" rating. Currently, Naspers has an average rating of "Buy". The stock traded at $11.42, with a 52-week range of $8.34 to $15.15. Naspers is a South African multinational focused on internet and technology investments, notably known for its early investment in Tencent.

- Analysts at Wall Street Zen downgraded Naspers from a "buy" to a "hold" rating, while Zacks Research upgraded it from a "strong sell" to a "hold."  
- The company's stock performance shows a trading price of $11.42 with a debt-to-equity ratio of 0.30, and it has a 52-week range between $8.34 and $15.15.  
- Naspers, a South African multinational, has transitioned from traditional publishing to technology investments, significantly benefiting from its early investment in Tencent.

Market Beat

Naspers

Naspers (OTCMKTS:NPSNY) Lowered to Hold Rating by Wall Street Zen

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Hong Kong stocks opened lower this morning, with the Hang Seng Index down 168 points to 26,913 points, and the National Index and Hang Seng Tech Index also opening lower by 67 points and 55 points, respectively. Technology stocks generally declined, with Tencent, Meituan, and JD.com opening down 0.6% to 0.9%, while Kuaishou, Baidu, and Alibaba opened down 1.5% to 1.6%. In the financial sector, HSBC opened down 1.2%, while domestic bank stocks generally opened down 1.1% to 1.4%, and AIA rose 1.5% against the trend

HSBC HOLDINGS

"Hong Kong Stocks" Hang Seng Index opened 168 points lower, domestic banks and insurers weakened, AIA rose against the trend

SBUX

HEYTEA

The data report for the Lunar New Year 2026 released by the Tencent WeChat team shows that the number of transactions in Hong Kong and Macau increased by 24% and 39%, respectively. Offline transactions in travel and lifestyle entertainment both grew by over 20%. The transaction amount of mini-programs during the Hong Kong Spring Festival increased by over 70%, with daily active users of mini-programs such as HEYTEA, Mixue Ice City, and Starbucks growing by about 40%. The number of Hong Kong residents traveling to the mainland for medical consumption increased by 117%, indicating a new trend in health consumption

Starbucks

The number of transactions on WeChat during the Lunar New Year in Hong Kong increased by 24% year-on-year, and the transaction volume of mini-programs rose by over 70%

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The short selling amount in the Hong Kong stock market reached HKD 17.26 billion in the first half of the day, accounting for 21.6% of the total shortable stock trading volume of HKD 79.72 billion. The previous day was 29%. Major shorted stocks include: TRACKER FUND with a short selling ratio of 25.8% and a short selling amount of HKD 1.64 billion; CSOP HS TECH with a short selling ratio of 40.8% and a short selling amount of HKD 1.45 billion; MEITUAN-W with a short selling ratio of 37.6% and a short selling amount of HKD 1.35 billion; HSCEI ETF with a short selling ratio of 18.2% and a short selling amount of HKD 820 million; TENCENT with a short selling ratio of 11.4% and a short selling amount of HKD 780 million

HSCEI ETF

The short selling in Hong Kong stocks for half a day was HKD 17.26 billion, accounting for 21.6% of the total turnover of shortable shares

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Hong Kong stocks surged on February 23, led by tech shares, following a U.S. Supreme Court ruling that reduced tariffs on China. The Hang Seng Index rose 2.3% to 27,019.21, while the Hang Seng China Enterprises Index increased by 2.5%. Analysts predict a significant tariff reduction for China, from 32% to 24%. U.S. President Trump is scheduled to visit China from March 31 to April 2, which is boosting market sentiment. The Hang Seng Tech Index climbed 4%, with notable gains from Alibaba and Tencent. Overall, the market is optimistic about China's economic recovery and upcoming events.

- Hong Kong stocks surged on February 23, with the Hang Seng Index rising 2.3% to 27,019.21, bolstered by positive sentiment following a U.S. Supreme Court ruling on tariffs.  
- The ruling reduced tariffs on China from 32% to 24%, prompting optimism in the market as U.S. President Trump plans a visit to China in late March.  
- Major tech stocks, including Alibaba and Tencent, saw significant gains, while early data indicated strong demand during the Chinese New Year holiday, leading to positive economic outlooks.

Reuters

Hang Seng China Enterprises Index

Alibaba

ISHARESHSI

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KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

HSTECH ETF

YieldMax BABA Option Income Strategy ETF

Hong Kong shares bounce after US Supreme Court tariff ruling; tech shares lead

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The Hang Seng Index opened 385 points higher this morning, reaching a maximum increase of 743 points to 27,156 points. It reported 27,017 points at noon, up 604 points or 2.29%. Technology stocks performed strongly, with Alibaba, Tencent, and MEITUAN all seeing significant gains. Gold-related stocks also rose broadly due to the increase in gold prices. However, some AI-related stocks, such as IM Motors, experienced a sharp decline. Analysts believe that Hong Kong stocks are influenced by tariff policies and are expected to test 27,300 points in the short term, but the future market trend still needs to pay attention to the situation of the mainland's reopening

- The Hang Seng Index opened 385 points higher, reaching a peak of 27,156 before falling to 27,017, up 2.29% by noon.  
- Notable blue-chip stocks like Alibaba and Tencent drove the rise, with Alibaba gaining over 3% and Meituan nearly 7%.  
- Analysts expect a potential rebound in technology stocks due to eased valuation pressure and increasing AI application, though concerns about the impact of global tariff adjustments remain.

Stheadline

EFUND GOLD MI-R

SPDR GOLD TRT

EFUND GOLD MI-U

EFUND GOLD MI ETF

The Hang Seng Index rose more than 600 points in half a day, surpassing the 27,000 mark. ATM contributed to the rising market, while Zhipu fell more than 20%｜Hong Kong stock market opens

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JP Morgan released a research report, predicting that the target for the MSCI China Index will be 100 points by the end of the year, and the target for the CSI 300 Index will be 5,200 points. The report points out that China has made progress in AI, robotics, biotechnology, and other fields, and the market's attitude towards the Chinese stock market will shift towards long-term investment. JP Morgan is optimistic about sectors benefiting from AI, including internet platforms, materials stocks, brokerage stocks, insurance stocks, consumer staples, and robotics, with a focus on recommending stocks such as Tencent, Alibaba, and Kweichow Moutai

CSI 300

Global X E-commerce ETF

Tianhong CSI Computer Theme ETF

Global X Robotics & Artificial

Invesco Golden Dragon China

iShares Future AI & Tech ETF

Hwabao CSI HK Equities Internet ETF

iShares China Large Cap

iShares MSCI China

Yinhua MSCI China A ETF

Krne Csi China Internet

E Fund CSI HK Connect Internet ETF

JP Morgan is optimistic about the materials, brokerage, insurance, consumer staples, and robotics sectors, with a year-end target of 100 points for the MSCI China Index

The Hong Kong stock market opened higher in the morning, with the Hang Seng Index rising 385 points to 26,798 points, and the National Index and Hang Seng TECH Index increasing by 131 points and 92 points, respectively. E-commerce stocks such as Alibaba and JD opened higher, while technology stocks Tencent, Meituan, and NetEase also saw gains. AI model stock KNOWLEDGE ATLAS opened down 13.8% due to issues. Export stocks such as Creative Technology and SHENZHOU INTL opened higher, and pharmaceutical stocks WUXI BIO and WUXI APPTEC also rose. Commodity prices increased, leading to a general rise in related resource stocks

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"Hong Kong Stocks" The Hang Seng Index opened high at 385 points, with technology, export, and resource stocks rising, while AI model stocks retraced

Unity

Conference Minutes

Below is Dolphin Research's Trans of the Q4 2025 earnings call for $Unity Software(U.US). For our earnings review, see '30% Overnight Plunge: Who Crushed Unity?'. I. Key financials recap. Q4 2025 results. Revenue $503mn (+2% YoY); Adj. EPS $0.24 (vs. Street $0.21). Adj. EBITDA $125mn (margin 25%); FCF $119mn...

Unity Software

Opendoor Tech

Opendoor Tech Series A - CW26

Opendoor Tech Series K - CW26

Opendoor Tech Series Z - CW26

TENCENT-R

Tencent HK SDR 10to1

Unity (Trans): Vector up 70% YoY in Jan.

30-40% upside potential. Mainly driven by AI, gaming, advertising growth. A great giant ETF company🤣. Too expensive to buy and hold for retail investor.

2026 Resolution-Trade like professional . Do not FOMO. Keep more cash.

Fattycat

BABA Diamond Holder

BABA Return Rate

我想问真观点

What is Tencent's upside potential?

KC1028

This Lunar New Year, China’s tech giants kicked off a new round of AI wars.Alibaba launched a ¥3B “Spring Festival Treat” campaign, driving 10 million free milk tea orders in 9 hours across its platforms. Tencent invested ¥1B into WeChat’s “Yuanbao” AI red packets to deepen engagement.ByteDance took another path — its Dream platform released Seedance 2.0, a video AI model that boosts usable output for short clips to over 90%, far above the ~20% industry average.Beyond subsidies, this battle is about who can truly integrate AI into daily life. The holiday rush helps shape habits, gather data, and train models — all aiming to become the go-to “AI ask” gateway.The winner won’t just get traffic, but could define the super-app of the AI era.So — who’s your pick? Alibaba’s commerce, Tencent’s social grip, or ByteDance’s tech edge?$Alibaba(BABA.US)$BABA-W(09988.HK)$BABA-WR(89988.HK)$Tencent(TCEHY.US)$TENCENT(00700.HK)

Yuanbao

The Battle for the AI Gateway: Who Wins?This Lunar New Year, China's tech giants unleashed a new wave of AI application wars. Alibaba's &#34;Spring Festival Treat&#34; campaign, backed by ¥3B, offered deals across e-commerce and local services, logging 10 million free milk tea orders in 9 hours. Tencent doubled down on its WeChat ecosystem, investing ¥1B into its &#34;Yuanbao&#34; AI red packet feature to boost engagement.ByteDance played a different card. Its Dream platform launched Seedance 2.0, a new video AI model. A key breakthrough: it boosted the usable output rate for 15-second clips to over 90%, far above the ~20% industry average, slashing generation costs.Beyond subsidies, this battle tests real AI integration and ecosystem strength. The holiday season is a prime testing ground to shape user habits, collect data, and train models—all fighting to become users' first-choice &#34;AI ask&#34; portal.The stakes? It's not just about traffic. It's about defining the super-app gateway for the AI era, which will ripple across the entire investment landscape.So, who's your pick for the ultimate AI gateway? Alibaba with its commerce power, Tencent with its social lock-in, or ByteDance with its tech edge?

Today’s Key News Recap

Feb 6 | Dolphin Research focus: 🐬 Stock 1, $BABA-W(09988.HK) Alibaba's Qwen app launched a 'Spring Festival RMB 3bn free-order' campaign today. The first wave centers on AI one-line prompts to order milk tea for free.Notably, WeChat further blocked today the promo passwords for red-envelope campaigns run by both Alibaba Qwen and Tencent Yuanbao. As a result, those keywords can no longer be copied or recognized in private or group chats.The move aims to protect WeChat's platform ecosystem and curb over-marketing that disrupts user experience. It also helps defend its social-traffic moat...

BABA-WR

Amazon

Roblox

LI AUTO-W

Li Auto

DingDong

XPENG-W

XPeng

Alibaba Qwen's Lunar New Year free-order promo was blocked by WeChat; Nio surged after its first-ever quarterly profit | Daily News Recap

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BPTENCT@EC2607B(24133.HK)

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

The short selling in Hong Kong stocks for half a day reached HKD 20.91 billion, accounting for 18.8% of the total turnover of shortable stocks

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

Hong Kong stock market intraday | The Hang Seng Index fell 1.65%, the Tech Index fell 2.26% leading the decline, KNOWLEDGE ATLAS surged 13.57%, YOFC strengthened against the trend