Internet weighted stock Tencent (0700.HK) experienced a significant increase yesterday after announcing its third fiscal quarter results report. Investors were relieved by the industry report. Analyst Ming Lu said on the Smartkarma platform that Tencent's online gaming business is not as bad as expected by the market. Because of this, he turned bullish on Tencent, which has value-added services and maintained a good player base. He gave the stock a target price of HK$375. The analyst added that Tencent's venture capital is beginning to focus on gaming and artificial intelligence, which is a positive sign for cost control. Tencent closed at HK$290 on Thursday. (john.wu@wsj.com)


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