China Internet Weekly (16Dec19): Tencent Broke Through Resistance Line

327 Views16 Dec 2019 08:51

SUMMARY

While researching Chinese Internet companies, we frequently come across news that merits being highlighted to investors, however, it is not big enough to warrant a research note. In our "Last Week on China Internet", we have tried to summarize the weekly news flow. If you have any feedback positive/negative please do let us know.

Tencent Holdings (700 HK)'s daily candle broke through its resistance line on Friday, December 13th.
We believe Tencent Holdings (700 HK) Video and iQIYI Inc (IQ US) agreed on a price alliance.
Vanguard and Alibaba Group Holding (BABA US)'s Ant Financial established a joint venture.
Baidu (BIDU US) consolidated two automobile department into one and denied any layoff after consolidation.
Wolfpack Research believes Qutoutiao Inc (QTT US)'s revenues are fake.

Ratings of our coverage in China:

Buy: Alibaba (BABA), Tencent (700 HK), JD.com (JD), Meituan (3690), TAL Education (TAL), New Oriental (EDU).
Hold: Ctrip.com (CTRP), Autohome (HTHM), 58.com (WUBA), NetEase (NTES)
Sell: Tencent Music (TME), Baidu (BIDU), Weibo (WB), Pinduoduo (PDD)

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