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<Research>Ratings & TPs on TENCENT (Table) (Update)
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<Foresight>Brokers Estimate TENCENT's 4Q25 Adj. NP to Have Soared 16%+; Focus on AI Strategy & Capital Expenditure Plans (Update)
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Nick Timiraos: Conflict in Mideast Reignites Inflation Nightmare, Limiting Room for Future Rate Cuts
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<Midday Takeaway>HSI Closes Midday at 26,088, Up 254 pts; HSTI Closes Midday at 5,180, Up 68 pts; MEITUAN Up over 3%; 160 HEALTH, CITIC TELECOM Hit New Highs
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<Results>HENGAN INT'L Full-yr NP Surges 10.3% YoY to RMB2.54B; Final DPS RMB0.7
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<Commodity>G Sachs: Mideast War's Impact on Jet Fuel/ Diesel Greater than on Crude
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John Lee: Govt Closely Monitoring Fluctuations in Oil Prices; Competition Commission to Exercise Powers under Law if Price Fixing Found
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Private Banks Reassure High-Net-Worth Clients as Private Credit Redemption Concerns Spread in Asia; HKMA Reportedly Assesses Related Risk Exposure
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<Research>UOB Kay Hian Lifts LINK REIT TP to $42.6, Rating Buy
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Australian Central Bank Raises Rate by 25 bps as Expected; Inflation Likely to Stay Above Target for Longer
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<Research>CICC Upbeat on Leading Shippers COSCO SHIP HOLD/ SITC/ ZHONGGU LOGISTICS
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<Research>UBS Favors Melco Resorts & Entertainment/ SANDS CHINA LTD, Still Bullish on MO Gambling Sector
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<Research>UBS: BEKE-W Qtr Results in Line; Mkt Reaction to Decreased Agents Likely Negative
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<Research>CICC Chops BLOKS TP to $90, Keeps Outperform Rating
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<Research>G Sachs: Iran Conflict Triggers Energy Shock, ST Negative Impact on Asia; Oil Prices Expected to Rise 20% More for Rest of Yr
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<Research>UBS: LINK REIT Valuation Reflects Weak HK Retail Fundamentals; Rating Kept at Buy
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<Research>G Sachs: Shr Mkts May Undergo Short-term Adjustment but Fundamentals Remain Strong; History Shows Geopolitical Shocks Present Opportunities
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<Research>CMBI Recommends INNOVENT BIO/ 3SBIO, Anticipates Fundamentals of CN Healthcare Industry to Accelerate Improvement
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M Stanley: AI to Deal Blow to Software Industry; Direct Loan Default Rate May Hike to 8%
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<Research>Citi Drops MO Mar GGR Forecast to MOP22B
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