0850 GMT - Tencent Music Entertainment Group could be a good buy when its stock falls, according to analysts at DBS Group Research. The music-streaming service provider's 3Q adjusted earnings beat consensus estimates on stronger music non-subscription revenue, Edmond Fok and others write in a note. They expect ad-supported membership tier--which provides some membership perks at a lower price, but still includes advertisements--to be a multi-year growth engine, given the music service has over 400 million non-paying users. Tencent Music Entertainment's ADRs fell 8% after its 3Q results, which seems unwarranted to the analysts, as they still view the company as China's top paid music-streaming option compared with ByteDance's Soda Music. DBS does not have a rating for Tencent Music. Its Hong Kong shares closed 10.7% lower at HK$75.60. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

November 13, 2025 03:50 ET (08:50 GMT)

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