Tencent stock price touched a weekly high at HKD 323 after

Tencent stock price touched a weekly high at HKD 323 after JPMorgan maintained its 'Overweight' rating. The bank raised its price target to HKD 350, citing stronger monetization in fintech and digital entertainment segments amid favorable macroeconomic indicators. Huawei Technologies is reportedly planning to significantly scale up production of its most advanced AI chips over the coming year. This spike in production is an effort to meet domestic demand in China, where companies like Alibaba (BABA), Tencent (TCEHY), and DeepSeek need millions of processors to develop and run AI services. Essentially, Huawei is seeking to win customers in the world’s largest semiconductor market at a time when Nvidia is grappling with geopolitical headwinds. Much of the recent momentum is fueled by Tencent's central role in China's digital and fintech ecosystem, but headlines have also been buzzing about its potential involvement in Starbucks' China business. The company was reportedly shortlisted by Starbucks as a possible investor, underscoring how Tencent continues to find high-profile avenues for growth. Of course, it's not all smooth sailing. Legal risks still emerge, as seen in the recent copyright suit brought by Sony against Tencent, hinting at continued business complexity and evolving risk perceptions. In today’s session, Tencent stock price added 1.1% as portfolio managers increased weightings to large-cap Chinese internet stocks. Near-term outlook favors steady earnings growth supported by cost optimization in content production.