On September 22, TENCENT rose 5.77% in regular trading, trading at HKD 455.0 per share, with turnover of HKD 5.601 billion. The stock extended gains as the Hong Kong internet sector continued its recovery from its second-half lows touched on September 17, building on a three-day winning streak.

The rally was supported by multiple catalysts. TENCENT has maintained a steady daily buyback pace of approximately HKD 100 million, repurchasing shares continuously from September 16 through September 21, with cumulative spending exceeding HKD 500 million over the period. On September 21 alone, the company repurchased 235,000 shares at prices between HKD 423.2 and HKD 434.2, spending approximately HKD 101 million. The persistent buyback program signals strong management confidence in the company's intrinsic value.

Industry-wide momentum also contributed, with the broader internet sector showing notable strength — Baidu gained 3.54% and Bilibili rose 2.03%, reflecting a clear sector linkage effect. Additionally, the Alibaba Cloud Conference opened the same day with a focus on Agentic AI, further boosting sentiment across cloud and AI-related names. Goldman Sachs maintains a buy rating on TENCENT with a 12-month target price of HKD 650, reinforcing institutional confidence in the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)