0532 GMT - Tencent's overall business fundamentals and growth outlook remain intact despite recently being added to a Pentagon list with alleged Chinese military ties, OCBC analysts write in a note. However, the news may indicate rising geopolitical tensions and could be a share-price overhang until further clarity on the development, they say. Tencent's key businesses are value-added services and online advertising, which remain positive over the long term. The recent share-price selloff may be an overreaction and provides for a long-term accumulation opportunity, they say. OCBC maintains a buy rating on the stock at fair value of HK$560.00. Shares are last at HK$373.00. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 10, 2025 00:32 ET (05:32 GMT)
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