TENCENT(HK:00700) Zhi Tong Cai Jing·2026-01-26 12:54Market Overview - The market is currently focused on resilience rather than aggressive movements, with A-shares experiencing ETF sell-offs and the Hang Seng Index showing slight fluctuations, closing up 0.06% [1] - Tensions between the US and Iran are at a peak, with concerns over the Strait of Hormuz affecting oil prices, leading to significant gains for companies like China National Offshore Oil Corporation and China Petroleum [1] - Canadian Prime Minister's visit to China resulted in trade agreements, but US President Trump threatened tariffs on Canadian imports if trade agreements with China were pursued [1] Commodity Prices - International gold and silver prices have surged, with gold reaching a historical high of $5093.18 per ounce and silver surpassing $109 per ounce [2] - High-end gold consumption is increasing, with significant consumer interest noted in SKP stores during the Chinese New Year season [2] - Commodity trading companies like Nanhua Futures have benefited from these price increases, with notable stock price rises [2] Uranium Market - The uranium market is showing strength, with a trust fund planning to issue up to $2 billion in transferable trust shares, indicating a growing demand for uranium [3] - Companies like China General Nuclear Power Corporation have seen stock increases of around 10% due to this positive outlook [3] AI and Technology Sector - Tencent is focusing on AI investments, with plans to enhance its AI platform and engage in competitive activities in the AI application space [4] - Companies like Longi Green Energy and Xunlei have also seen stock increases due to their involvement in AI and data center businesses [3][4] Real Estate Market - Hong Kong real estate stocks are expected to see a price increase of 5% to 10% this year, with reports of a potential spin-off of telecommunications assets by CK Hutchison [5] - The domestic real estate market is showing resilience, with significant increases in second-hand home transactions in major cities [5] Health Sector - The emergence of the Nipah virus in India is expected to increase demand for antiviral medications, benefiting companies like Sihuan Pharmaceutical and CanSino Biologics [6][5] - CanSino is advancing its vaccine development for the Nipah virus, reflecting a proactive approach to emerging health threats [6] Coal Industry - A report indicates that coal supply policies may lead to significant reductions in production capacity, potentially improving coal prices in 2026 [7] - Major coal companies like China Shenhua Energy and Yanzhou Coal Mining are positioned to benefit from these changes in supply dynamics [8] Jewelry Market - Chow Tai Fook has reported strong sales growth, particularly in high-margin gold jewelry, with same-store sales in mainland China increasing by 21.4% [9][10] - The company is optimizing its store network and expanding into Southeast Asia, indicating a strategic approach to growth amid rising gold prices [10]