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2009-6-24 12:42:00 p.m. HKT, XFNA
DJ MARKET TALK: Tencent +5.7%; To Co-Develop Online NBA Game
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| 1208 [Dow Jones] Tencent (0700.HK) +5.7% at HK$90.05, likely aided by deal with Take Two Interactive (TTWO) to co-develop online version of Take Two's NBA 2K basketball simulation, distribute game in China, Taiwan, Korea, Southeast Asia. Goldman Sachs believes deal fits Tencent's strategy of seeking leadership in advanced casual game genres, with Tencent pushing deeper into game development, should allow Tencent to learn skills from Western partner. Adds, biggest game genre where Tencent lacks presence is soccer, expects Tencent to seek foreign partner with an existing soccer title. Rates at Buy, HK$96.00 target. All-time high of HK$92.90 hit Monday may be immediate cap. (RLI) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(Delayed by 1 hour)
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