A turning point in the AI arms race? After meeting with management, Wall Street’s take: Tencent is fighting its “Battle of Midway”

Bank of America Merrill Lynch likens the competitive landscape of Tencent’s AI initiatives to the "Battle of Midway"—the war is not yet over, but the balance of power has subtly shifted. The report indicates that Tencent is making significant investments in computing power, accelerating the iteration of its Hunyuan model, and advancing the deployment of WorkBuddy and Xiao Wei on dual fronts. Although depreciation pressures are compressing near-term profits, the current price-to-earnings ratio fails to reflect the option value of its AI assets. BofA maintains a Buy rating with a target price of HK$780, implying an upside potential of more than 77% from the current level.

wallstreetcn49minutes ago

August 17 Buyback Roundup | Tencent and HSBC Holdings, among others, conducted share buybacks, with Tencent spending HK$301 million.

According to documents disclosed by the Hong Kong Exchange on August 18, companies including $Tencent (00700.HK)$ and $HSBC Holdings (00005.HK)$ have repurchased shares. ① $Tencent (00700.HK)$ repurchased 673,000 ordinary shares on August 17, involving an amount of HK$301 million, with a repurchase price per share ranging from HK$442.6 to HK$450. Since the resolution authorizing the buyback was passed, the cumulative number of securities repurchased stands at 36.7457 million shares, representing 0.403% of the issued share capital at the time the ordinary resolution was approved. ② $HSBC Holdings (00005.HK)$

Futu News36minutes ago

Zhitong Analysis of Stock Connect Holdings | August 18

Analysis of Stock Connect Holdings in Hong Kong | August 17, 2026

Zhitong Finance08:30

Express News | According to HKEX filings, Tencent repurchased 673,000 shares on August 17 at a cost of HK$300.7 million.

BreakingsAug 17 17:39

Selected HK Stock Announcements | Hisense Home Appliances Group reports H1 revenue of nearly RMB 47 billion; Cowell eHoldings sees interim profit rise by approximately 30% year-on-year

1. Hisense Home Appliances reported H1 revenue of nearly RMB 47 billion; what was the year-on-year growth rate? 2. Cowell e Holdings' interim profit increased by approximately 30% year-on-year; what is the scale of its operations?

cls.cnAug 17 21:28

Zhitong Stock Connect Active Trading | August 17

Active Trading via Stock Connect | August 17, 2026

Zhitong FinanceAug 17 19:00