Hang Seng TECH Index (800700) Stock Forum and Discussion

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800700 Hang Seng TECH Index

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4112.590
+40.440+0.99%

Not Open May 17 16:00 CST

4162.510High4073.610Low

Feirre

May 17 06:05

Naspers Appoints New CEO for Tencent's Major Shareholder

$NASPERS(NAPRF.US)$ , Tencent's major South African shareholder, and its Dutch subsidiary $Prosus N.V. Sponsored ADR(PROSY.US)$ have appointed Fabricio Bloisi as CEO, replacing interim CEO Ervin Tu. Bloisi will assume his role on 1 July, with Tu becoming President and CIO.
Prosus stated that their strategic objectives remain unchanged, aiming for a trading profit from consolidated e-commerce in the second half of the financial year.
$NASPERS LTD ADR(NPSNY.US)$ $PROSUS N.V.(PROSF.US)$ $TENCENT(00700.HK)$ $Tencent(TCEHY.US)$ $Hang Seng TECH Index(800700.HK)$

Kuries

May 17 05:15

Alibaba jumps about 7% in Hong Kong.

Scion Asset Management, managed by Michael Burry, increased its holdings of Chinese large caps, and boosted its stakes in $Alibaba(BABA.US)$ by 67% to 125,000 shares while making $JD.com(JD.US)$ its top holding after boosting its stake by 80%.
$ALIBABA GROUP HOLDING LTD(BABAF.US)$ $BABA-SW(09988.HK)$ $Hang Seng TECH Index(800700.HK)$ $JD-SW(09618.HK)$

Feirre

May 17 04:14

Citi raised the target price of Tencent to HK$515 and reaffirmed it as one of the Top Picks.
$TENCENT(00700.HK)$ $Tencent(TCEHY.US)$ $Hang Seng TECH Index(800700.HK)$

Kuries

May 17 03:21

Michael Burry Increases Stakes in JD and Alibaba in 1Q

Michael Burry's Scion Asset Management boosted its investments in $JD.com(JD.US)$ and $Alibaba(BABA.US)$ during the first quarter, regulatory filings reveal. JD now holds the top position in Scion's portfolio, while Alibaba is the second-largest, with a $9 million stake following the addition of 50,000 shares. The firm also increased its holdings in $BIDU-SW(09888.HK)$ .
$ALIBABA GROUP HOLDING LTD(BABAF.US)$ $BABA-SW(09988.HK)$ $Hang Seng TECH Index(800700.HK)$

Spinee

May 16 01:54

HSI Mounts 303 pts at Midday as CN Developers Swell; TENCENT Prospers Post-results

$Hang Seng Index(800000.HK)$ climbed 303 points or 1.6% to 19,376 at midday. $Hang Seng China Enterprises Index(800100.HK)$ gained 122 points or 1.8% to 6,864. $Hang Seng TECH Index(800700.HK)$ hiked 42 points or 1.1% to 4,084. Total half-day turnover for the market amounted to $114.256 billion.
$TENCENT(00700.HK)$ 's 1Q24 non-IFRS net profit hiked 54% YoY, beating forecasts, and its share price advanced 4.2% to $397.8.
$BABA-SW(09988.HK)$ shed 2.4%...

Feirre

May 16 01:42

Macquarie Raises TENCENT Target Price to $473 on Expanding Margins

Macquarie has increased its target price for TENCENT to $473, citing the company's consolidated core strengths and expanding profit margins.
TENCENT's 1Q24 revenue rose 6% YoY to RMB159.5 billion, driven by a robust advertising business, while its adjusted net profit of RMB50.3 billion exceeded both Macquarie's and the market's expectations by 13% and 18%, respectively.
The broker reiterated an "Outperform" rating, anticipatin...

Kuries

May 16 01:38

Goldman Sachs Raises BABA Target Price to $103 as Growth Resumes

Goldman Sachs has raised Alibaba's (BABA) target price to $103, citing a return to growth in FY2024.
Alibaba's business restructuring has yielded positive results, with its Taobao Tmall Group achieving double-digit GMV growth and a 5% increase in customer management revenue (CMR) in 4FQ24, both exceeding market expectations.
Goldman Sachs also highlighted the company's shareholder return policies and the upcoming completion of i...

Feirre

May 16 01:11

TENCENT Escalates ~5% Post-results, Once Recovers to $400; BABA Loses $80-mark Post-results

$TENCENT(00700.HK)$ reported better-than-expected quarterly results, and opened 4.77% higher this morning. The stock peaked at $400.2, a new high since January 2023, and last advanced 4.66% to $399.6. Volume amounted to 15.5563 million shares, involving $6.208 billion.
$BABA-SW(09988.HK)$ retreated post-results, and inclined for 4 consecutive days. It opened 4.05% lower today, and bottomed at...

Spinee

May 15 22:01

According to UBS, global funds’ underweight position in Chinese equities may have reached a bottom as foreign inflows return.

$Hang Seng TECH Index(800700.HK)$ $Hang Seng Index(800000.HK)$ $Hang Seng H-Share Index ETF(02828.HK)$ $BABA-SW(09988.HK)$ $TENCENT(00700.HK)$ $XPENG-W(09868.HK)$ $NIO-SW(09866.HK)$ $BYD COMPANY(01211.HK)$

Spinee

May 15 21:18

Hong Kong stock market opens up on Thursday after the holiday. $Hang Seng Index(800000.HK)$ +1% and $Hang Seng TECH Index(800700.HK)$ up 1.24%.
$TENCENT(00700.HK)$ rose 4.77% after the 1Q earning beat, while $BABA-SW(09988.HK)$ dropped 4%.

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