Market Insight | Tencent Music-SW rose more than 5% and will release its performance after hours today. Morgan Stanley expects its second-quarter performance to be slightly higher than market expectations
Tencent Music-SW rose by over 5%, as of the time of publication, it rose by 5.19% to HKD 53.75, with a turnover of HKD 2.2702 million. On the news front, Tencent Music is set to announce its second-quarter results after the Hong Kong stock market closes today. Morgan Stanley previously pointed out that Tencent Music's basic factors remain stable and it is the stock least affected by the weak macro environment and competition within their coverage. The bank believes that driven by subscribers, advertising, other music revenue, and profit margins, Tencent Music still has room for growth. At the same time, it is expected that the upcoming second-quarter results and third-quarter guidance for Tencent Music will slightly exceed market expectations
According to the information from Zhitong Finance APP, Tencent Music (01698) surged over 5%, as of the time of publication, it rose by 5.19% to HKD 53.75, with a turnover of HKD 2.2702 million.
On the news front, Tencent Music is set to announce its second-quarter results after the Hong Kong stock market closes today. Morgan Stanley previously pointed out that Tencent Music's fundamental factors remain robust and it is the stock least affected by the weak macro environment and competition within their coverage. The firm believes that driven by subscribers, advertising, other music revenue, and profit margins, Tencent Music still has room for growth. At the same time, it is expected that the upcoming second-quarter results of Tencent Music and the third-quarter guidance will slightly exceed market expectations