TENCENT(HK:00700) Zhong Guo Ji Jin Bao·2025-08-13 17:06Group 1: Market Performance - US stock markets showed positive performance with major indices rising, including a more than 300-point increase in the Dow Jones [1] - The S&P 500 and Nasdaq reached intraday historical highs shortly after opening but later retreated [1] - Chinese concept stocks index rose over 2% during the same period [4] Group 2: Economic Indicators and Federal Reserve Expectations - Recent inflation data released on Tuesday was below expectations, increasing hopes for a Federal Reserve rate cut in September, with a 99% probability indicated by CME FedWatch tool [2] - Strong performance during the second quarter earnings season has also contributed to market optimism [2][3] - US Treasury Secretary Scott Bessenet suggested the possibility of a series of rate cuts starting with a 50 basis point reduction in September [3] Group 3: Company-Specific Developments - AMD's stock price surged over 4%, leading the technology sector, while Apple also saw an increase of over 1% [2] - Tencent's American Depositary Receipts (ADR) rose nearly 7% following a strong second-quarter earnings report, with revenue growth of 15% year-on-year, exceeding analyst expectations [7] - Tencent's capital expenditure increased to 19 billion RMB in Q2, but the company plans to invest wisely without large-scale hiring or excessive marketing spending [7]