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Minsheng Securities: WeChat Mini Shop's 'Gifting' under Testing Hails Opportunities; Focus on Monetization of Sellers like EAST BUY
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EAST BUY (01797.HK) rallied 11.7% to close at $18.28 at midday today (23rd), with turnover of more than $930 million. WEIMOB INC (02013.HK) spiked 6.2%, while TENCENT (00700.HK) faded 1.2%. BABA-W (09988.HK) rose nearly 0.9%. Minsheng Securities, a Chinese broker, said in a report that, ahead of the holiday season of Christmas, New Year's Day and Spring Festival, WeChat Mini Shop is under gray-box testing for its "gifting" function, marking a persistent upgrade of TENCENT (00700.HK)'s WeChat e-commerce, and further opening up the market expectations for the commercialization of TENCENT's WeChat. Eyeing on the this round of upcycle of Tencent's valuation, the broker also paid attention to the opportunities for related parties in the chain, with a focus on merchandise monetization of sellers, such as EAST BUY. AAStocks Financial News |
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