0639 GMT - Kuaishou's live-streaming e-commerce business is clouded by industry saturation and competition, Nomura analysts Jialong Shi and Rachel Guo say in a research note. The analysts note that the Chinese short video company's major competitor Douyin is seeing good progress in its live-streaming e-commerce business. Tencent, which holds a 16% in Kuaishou, also wants to get more shares from the short video advertising space, the analysts add. They lower the target price on Kuaishou's stock to HK$58.5 from HK$68.0 due to sector de-rating and maintain a neutral rating. The stock is down 3.8% at HK$49.30. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
March 22, 2024 02:39 ET (06:39 GMT)
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