Morgan Stanley: China Internet Valuations Still Reasonable; Top Pick Tencent, Followed by Meituan/ Trip.com

Aastocks10-15

China's People's Bank of China (PBOC) meeting and Politburo meeting in late-September suggest a significant policy pivot on the weak economy, Morgan Stanley released a research report saying.However, ...

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KJ11
10-15
KJ11
So do you want to buy undervalued stocks or overvalued stocks at ATH? Lol
ONLYoptionsFANS
10-15
ONLYoptionsFANS
SnP at ATH and the Chinese stocks r still down.broken bridges

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Top Pick Tencent, Followed by Meituan/ Trip.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-15 13:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1388142/popular-news/AAFN><strong>Aastocks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China's People's Bank of China (PBOC) meeting and Politburo meeting in late-September suggest a significant policy pivot on the weak economy, Morgan Stanley released a research report saying.However, ...</p>\n\n<a href=\"http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1388142/popular-news/AAFN\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BIDU":"百度","09961":"携程集团-S","09999":"网易-S","09888":"百度集团-SW","BABA":"阿里巴巴","TCOM":"携程网","TME":"腾讯音乐","NTES":"网易","00700":"腾讯控股","01698":"腾讯音乐-SW","03690":"美团-W"},"source_url":"http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1388142/popular-news/AAFN","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105863417","content_text":"China's People's Bank of China (PBOC) meeting and Politburo meeting in late-September suggest a significant policy pivot on the weak economy, Morgan Stanley released a research report saying.However, the National Development and Reform Commission (NDRC) meeting on 8 October and the Ministry of Finance (MOF) meeting on 12 October failed to meet the market's expectations, further reinforcing the broker's view that China's debt, demographics and deflation will continue to face challenges in the future, i.e., a debt-deflation loop, especially if the consumption stimulus failed to meet the standard.The broker believed that China's internet valuations remain reasonable, and thus the potential upside to 2H24-2025 earnings forecasts remain uncertain, even for certain cyclical segments, as it will take time for supportive policies to translate into consumer and corporate confidence.Morgan Stanley cited Tencent (00700.HK)'s structural tailwinds for games/social (50% of revenue), macro optionality for advertising/ FBS (50% of revenue), market share gain across segments, high earnings visibility and commitment to capital management, and kept TENCENT as its sector top pick, with rating at Overweight.Secondly, Morgan Stanley preferred MEITUAN-W (03690.HK) and Trip.com Group Limited (TCOM.US) both rated at Overweight, due to structural tailwinds, superior growth and benign/ improved competition on consumption recovery.Moreover, the broker maintained a cautious view on Alibaba Group Holding Limited (BABA.US), Baidu, Inc. 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(NTES.US) and Tencent Music Entertainment Group (TME.US), which are all rated at Equalweight.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":360317305819200,"gmtCreate":1728972588103,"gmtModify":1728973772195,"author":{"id":"3581998697787969","authorId":"3581998697787969","name":"ONLYoptionsFANS","avatar":"https://community-static.tradeup.com/news/7b4a81496499e9f26603567a0b480f3a","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":9,"crmLevelSwitch":1,"idStr":"3581998697787969","authorIdStr":"3581998697787969"},"htmlText":"SnP at ATH and the Chinese stocks r still down.broken bridges","listText":"SnP at ATH and the Chinese stocks r still down.broken bridges","text":"SnP at ATH and the Chinese stocks r still down.broken bridges","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/360317305819200","repostId":1105863417,"repostType":2,"repost":{"id":"1105863417","kind":"news","pubTimestamp":1728969600,"share":"https://ttm.financial/m/news/1105863417?lang=&edition=fundamental","pubTime":"2024-10-15 13:20","market":"us","language":"en","title":"Morgan Stanley: China Internet Valuations Still Reasonable; Top Pick Tencent, Followed by Meituan/ Trip.com","url":"https://stock-news.laohu8.com/highlight/detail?id=1105863417","media":"Aastocks","summary":"China's People's Bank of China (PBOC) meeting and Politburo meeting in late-September suggest a significant policy pivot on the weak economy, Morgan Stanley released a research report saying.However, ","content":"<html><head></head><body><p>China&#39;s People&#39;s Bank of China (PBOC) meeting and Politburo meeting in late-September suggest a significant policy pivot on the weak economy, Morgan Stanley released a research report saying.<br/><br/>However, the National Development and Reform Commission (NDRC) meeting on 8 October and the Ministry of Finance (MOF) meeting on 12 October failed to meet the market&#39;s expectations, further reinforcing the broker&#39;s view that China&#39;s debt, demographics and deflation will continue to face challenges in the future, i.e., a debt-deflation loop, especially if the consumption stimulus failed to meet the standard.</p><p>The broker believed that China&#39;s internet valuations remain reasonable, and thus the potential upside to 2H24-2025 earnings forecasts remain uncertain, even for certain cyclical segments, as it will take time for supportive policies to translate into consumer and corporate confidence.<br/><br/>Morgan Stanley cited Tencent (00700.HK)&#39;s structural tailwinds for games/social (50% of revenue), macro optionality for advertising/ FBS (50% of revenue), market share gain across segments, high earnings visibility and commitment to capital management, and kept TENCENT as its sector top pick, with rating at Overweight.</p><p>Secondly, Morgan Stanley preferred MEITUAN-W (03690.HK) and Trip.com Group Limited (TCOM.US) both rated at Overweight, due to structural tailwinds, superior growth and benign/ improved competition on consumption recovery.</p><p>Moreover, the broker maintained a cautious view on Alibaba Group Holding Limited (BABA.US), Baidu, Inc. (BIDU.US), NetEase, Inc. (NTES.US) and Tencent Music Entertainment Group (TME.US), which are all rated at Equalweight.<br/></p></body></html>","source":"lsy1657595521938","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley: China Internet Valuations Still Reasonable; Top Pick Tencent, Followed by Meituan/ Trip.com</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley: China Internet Valuations Still Reasonable; Top Pick Tencent, Followed by Meituan/ Trip.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-15 13:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1388142/popular-news/AAFN><strong>Aastocks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China's People's Bank of China (PBOC) meeting and Politburo meeting in late-September suggest a significant policy pivot on the weak economy, Morgan Stanley released a research report saying.However, ...</p>\n\n<a href=\"http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1388142/popular-news/AAFN\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BIDU":"百度","09961":"携程集团-S","09999":"网易-S","09888":"百度集团-SW","BABA":"阿里巴巴","TCOM":"携程网","TME":"腾讯音乐","NTES":"网易","00700":"腾讯控股","01698":"腾讯音乐-SW","03690":"美团-W"},"source_url":"http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1388142/popular-news/AAFN","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105863417","content_text":"China's People's Bank of China (PBOC) meeting and Politburo meeting in late-September suggest a significant policy pivot on the weak economy, Morgan Stanley released a research report saying.However, the National Development and Reform Commission (NDRC) meeting on 8 October and the Ministry of Finance (MOF) meeting on 12 October failed to meet the market's expectations, further reinforcing the broker's view that China's debt, demographics and deflation will continue to face challenges in the future, i.e., a debt-deflation loop, especially if the consumption stimulus failed to meet the standard.The broker believed that China's internet valuations remain reasonable, and thus the potential upside to 2H24-2025 earnings forecasts remain uncertain, even for certain cyclical segments, as it will take time for supportive policies to translate into consumer and corporate confidence.Morgan Stanley cited Tencent (00700.HK)'s structural tailwinds for games/social (50% of revenue), macro optionality for advertising/ FBS (50% of revenue), market share gain across segments, high earnings visibility and commitment to capital management, and kept TENCENT as its sector top pick, with rating at Overweight.Secondly, Morgan Stanley preferred MEITUAN-W (03690.HK) and Trip.com Group Limited (TCOM.US) both rated at Overweight, due to structural tailwinds, superior growth and benign/ improved competition on consumption recovery.Moreover, the broker maintained a cautious view on Alibaba Group Holding Limited (BABA.US), Baidu, Inc. (BIDU.US), NetEase, Inc. (NTES.US) and Tencent Music Entertainment Group (TME.US), which are all rated at Equalweight.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":6,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1105863417"}