1002 GMT - Kuaishou Technology may face short-term downside risks from WeChat's new gifting feature, Daiwa analysts write in a note. Kuaishou's live-streaming e-commerce platform is known for its strength in private-domain traffic and low-ticket items compared with ByteDance's Douyin. However, Tencent's WeChat is expected to launch a new "send gifts" feature, with items priced below CNY10,000, which could pose a competitive threat to Kuaishou. Daiwa maintains a buy rating on the stock with a target price of HK$80.00. Shares last traded at HK$40.55. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 02, 2025 05:02 ET (10:02 GMT)
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