Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> is scheduled to report its H1 / Q2 2026 financial results on August 11–12, 2026. In our <a href="https://www.smartkarma.com/insights/tencent-700-hk-tactical-outlook-imminent-pullback-buy-entry-ahead-of-q2-earnings" target="_blank" rel="noopener">recent insight</a> (July 17) we signaled a BUY opportunity.</li>
<li>There has been some bottoming process and the PROFIT TARGETS have been reset on our model.</li>
<li>This insight updates the profit targets for a rally that may be starting from the current lows. Consensus ratings remains overwhelmingly bullish: "Buy" or "Strong Buy".</li>
</ul>



Tencent (700 HK) is scheduled to report its H1 / Q2 2026 financial results on August 11–12, 2026. In our recent insight (July 17) we signaled a BUY opportunity.
There has been some bottoming process and the PROFIT TARGETS have been reset on our model.
This insight updates the profit targets for a rally that may be starting from the current lows. Consensus ratings remains overwhelmingly bullish: "Buy" or "Strong Buy".


Tencent (700 HK) Tactical Outlook UPDATE: Rally Profit Targets

Derivatives and Quantitative Strategist

Gaudenz Schneider

<ul>
<li>
Context: Over the past five trading days, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.</li>
<li>
Highlights: Diagonal spreads accounted for 31% of observed trades, supported by an inverted term structure leading into earnings.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies.</li>
</ul>



Context: Over the past five trading days, Tencent (700 HK) multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.

Highlights: Diagonal spreads accounted for 31% of observed trades, supported by an inverted term structure leading into earnings.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies.


Tencent (700 HK) Option Insights: Balanced Positioning Ahead of Earnings

Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

Quality-first, Business-perspective Strategy

Urbem (HK) Limited

Equity Bottom-Up

<ul>
<li>Since our July 2021 Top Pick, Kaspi.kz more than tripled net income in US dollars and deepened engagement, confirming our view of the franchise.</li>
<li>Shareholders earned only about 1% a year because the multiple fell from 34x to 7.4x, a valuation risk our 2021 piece never quantified.</li>
<li>At today’s price, our base case returns about 16% a year in dollars, our tenge-risk hurdle; if Türkiye works, rates fall and the tenge holds, returns could exceed 30%.</li>
</ul>


Since our July 2021 Top Pick, Kaspi.kz more than tripled net income in US dollars and deepened engagement, confirming our view of the franchise.
Shareholders earned only about 1% a year because the multiple fell from 34x to 7.4x, a valuation risk our 2021 piece never quantified.
At today’s price, our base case returns about 16% a year in dollars, our tenge-risk hurdle; if Türkiye works, rates fall and the tenge holds, returns could exceed 30%.


Kaspi.kz Five Years On: We Overpaid in 2021; at 7.4x, the Price Now Works

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Thematic (Sector/Industry)

<ul>
<li>Anthropic, OpenAI, xAI, Xiaomi and Stepfun all shipped model updates, with price cuts and open weights at the center of the week.</li>
<li>AI infrastructure financing stayed active across Akamai, Nscale, Firmus, Oracle-linked data centers, CoreWeave facilities and SoftBank debt.</li>
<li>Regulatory and security news focused on Pentagon supply-chain controls, OpenAI evaluation incidents and US review before UK model testing.</li>
</ul>


Anthropic, OpenAI, xAI, Xiaomi and Stepfun all shipped model updates, with price cuts and open weights at the center of the week.
AI infrastructure financing stayed active across Akamai, Nscale, Firmus, Oracle-linked data centers, CoreWeave facilities and SoftBank debt.
Regulatory and security news focused on Pentagon supply-chain controls, OpenAI evaluation incidents and US review before UK model testing.


This Week in AI (Sep 20-26): Opus 5.5 and GPT-6 Launch Cheaper; Data Center IPO Delays

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> is scheduled to report its H1 / Q2 2026 financial results on August 11–12, 2026.</li>
<li>The stock went a bit lower since <a href="https://www.smartkarma.com/insights/tencent-700-hk-tactical-outlook-is-the-selloff-over-model-signals-reversal-ahead-of-earnings" target="_blank" rel="noopener">our BUY signal in early May 2026</a>, but not dramatically lower, current price is virtually the same as early May.
</li>
<li>Consensus ratings: overwhelmingly bullish. 43 out of 47 institutional analysts track the stock as a "Buy" or "Strong Buy".
</li>
</ul>



Tencent (700 HK) is scheduled to report its H1 / Q2 2026 financial results on August 11–12, 2026.
The stock went a bit lower since our BUY signal in early May 2026, but not dramatically lower, current price is virtually the same as early May.

Consensus ratings: overwhelmingly bullish. 43 out of 47 institutional analysts track the stock as a "Buy" or "Strong Buy".



Tencent (700 HK) Tactical Outlook: Imminent Pullback, Buy Entry Ahead of Q2 Earnings

China

Tencent Holdings Ltd. is a Chinese multinational technology and entertainment conglomerate. It provides a wide range of internet-related services and products, including social communication platforms like Weixin/WeChat and QQ, online games, digital content, and fintech services. The company was founded in 1998 and is headquartered in Shenzhen, China.

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Tencent (700 HK)

Tencent (700 HK) Tactical Outlook UPDATE: Rally Profit Targets

Tencent (700 HK) to report Q2 2026 results on Aug 11-12. Our model signaled a BUY opportunity, rally profit targets have been updated. Consensus...

Nico Rosti

Tencent (700 HK) Option Insights: Balanced Positioning Ahead of Earnings

Tencent's multi-leg option strategies, including diagonal spreads, offer insights into traders' positioning and actionable examples for inspiration.

Gaudenz Schneider

Kaspi.kz Five Years On: We Overpaid in 2021; at 7.4x, the Price Now Works

Earnings more than tripled in dollars after our 2021 Top Pick, yet the stock barely moved. At 7.4x earnings, the next five years can look very...

Urbem Capital

This Week in AI (Sep 20-26): Opus 5.5 and GPT-6 Launch Cheaper; Data Center IPO Delays

This week in AI: Anthropic and OpenAI cut frontier-model costs, Grok 4.7 entered major coding channels, and financing stress hit infrastructure.

Ke Yan, CFA, FRM

Tencent (700 HK) Tactical Outlook: Imminent Pullback, Buy Entry Ahead of Q2 Earnings

Tencent (700 HK)'s recent rally is probably over: a pullback from here could last 1-2 weeks and offer a chance to enter LONG at discounted price...

Nico Rosti

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52-week Range

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P/E

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Tencent (700 HK) Tactical Outlook UPDATE: Rally Profit Targets

​Tencent (700 HK) to report Q2 2026 results on Aug 11-12. Our model signaled a BUY opportunity, rally profit targets have been updated. Consensus...

Nico Rosti

Tencent (700 HK) Option Insights: Balanced Positioning Ahead of Earnings

Tencent's multi-leg option strategies, including diagonal spreads, offer insights into traders' positioning and actionable examples for inspiration.

Gaudenz Schneider

Kaspi.kz Five Years On: We Overpaid in 2021; at 7.4x, the Price Now Works

Earnings more than tripled in dollars after our 2021 Top Pick, yet the stock barely moved. At 7.4x earnings, the next five years can look very...

Urbem Capital

This Week in AI (Sep 20-26): Opus 5.5 and GPT-6 Launch Cheaper; Data Center IPO Delays

This week in AI: Anthropic and OpenAI cut frontier-model costs, Grok 4.7 entered major coding channels, and financing stress hit infrastructure.

Ke Yan, CFA, FRM

Tencent (700 HK) Tactical Outlook: Imminent Pullback, Buy Entry Ahead of Q2 Earnings

​Tencent (700 HK)'s recent rally is probably over: a pullback from here could last 1-2 weeks and offer a chance to enter LONG at discounted price...

Nico Rosti

Tencent (700 HK) to report Q2 2026 results on Aug 11-12. Our model signaled a BUY opportunity, rally profit targets have been updated. Consensus...

Tencent (700 HK)'s recent rally is probably over: a pullback from here could last 1-2 weeks and offer a chance to enter LONG at discounted price...