{"ticker": {"uuid": "e073fd60-febc-41a6-9611-f597c946f944", "symbol": "1698", "name": "Tencent Music Entertainment Group", "exchange": "HKG", "asset_type": "equity"}, "latest_week": "2026-08-07", "summary": "1698 closed the latest completed week at 37.38 HKD. The 4-week return is 6.7% and the 12-week return is 10.6%. The trend backdrop is inactive, with activity pressure at 1.01.", "description": "Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People's Republic of China. It provides QQ Music, Kugou Music, and Kuwo Music that enable users to discover, enjoy, and share music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends. The company also delivers music-centric live streaming services primarily through the Live Streaming tab on QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with audience base; and Lazy Audio, an audio platform. In addition, it sells artist-related merchandise, such as branded apparel, posters and art prints, and accessories; other music services, such as content licensing, sales of digital albums, sales of customized artist-related merchandises, live performances and concerts, and artist management services; and music subscriptions, as well as offers advertising services across its social entertainment platforms. The company is headquartered in Shenzhen, China. Tencent Music Entertainment Group operates as a subsidiary of Tencent Holdings Limited.", "setup_signature": "Risk-first tape", "composite_score": "36", "kpis": [{"label": "Latest Close", "value": "37.38 HKD", "hint": "2026-08-07"}, {"label": "1W Return", "value": "-2.9%", "tone": "negative", "hint": "latest completed week"}, {"label": "4W Return", "value": "6.7%", "tone": "positive", "hint": "short-term follow-through"}, {"label": "12W Return", "value": "10.6%", "tone": "positive", "hint": "quarterly tape"}, {"label": "Trend Breadth", "value": "26.9%", "hint": "14 of 52 weeks active"}, {"label": "Volume Ratio", "value": "1.0x", "hint": "vs 13-week average"}], "classification": {"exchange": "HKG", "country": "HK", "sector": "Communication Services", "industry": "Internet Content & Information", "currency": "HKD", "market_cap": "118.3B"}, "price": {"trend_line": "43.24 HKD", "fair_value": "51.47 HKD", "vs_trend": "-13.5%", "vs_fair_value": "-27.4%", "high_52": "103.7 HKD", "low_52": 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"volume": "5.7M"}, {"week": "17 Jul", "return": 4.394979897403553, "return_label": "4.4%", "return_tone": "positive", "volume_height": 40.33495919280859, "volume": "10.3M"}, {"week": "24 Jul", "return": -6.232922021163369, "return_label": "-6.2%", "return_tone": "negative", "volume_height": 39.2182312624399, "volume": "10.0M"}, {"week": "31 Jul", "return": 12.244901231629775, "return_label": "12.2%", "return_tone": "positive", "volume_height": 46.080310716326714, "volume": "11.8M"}, {"week": "7 Aug", "return": -2.9090883116883117, "return_label": "-2.9%", "return_tone": "negative", "volume_height": 27.6389721808702, "volume": "7.1M"}], "insights": [{"label": "Participation", "value": "1.0x", "detail": "Latest volume versus the 13-week average.", "tone": "neutral"}, {"label": "Baseline", "value": "7.3M", "detail": "13-week average volume.", "tone": "neutral"}, {"label": "One-year base", "value": "7.0M", "detail": "52-week average volume.", "tone": "neutral"}]}, "risk": {"volatility_13": "6.6%", "volatility_52": "6.5%", "downside_weeks": 34, "upside_weeks": 18, "downside_breadth": "65.4%", "average_gain": "5.0%", "average_loss": "-4.7%", "distribution_scale": "26%", "return_callouts": [{"label": "Weeks higher", "value": "10 of 26", "detail": "16 weeks finished lower.", "tone": "negative"}, {"label": "Best week", "value": "+12.2%", "detail": "Week of 31 Jul.", "tone": "positive"}, {"label": "Worst week", "value": "-25.1%", "detail": "Week of 20 Mar.", "tone": "negative"}, {"label": "Latest week", "value": "-2.9%", "detail": "Week of 7 Aug.", "tone": "negative"}], "buckets": [{"label": "Strong gains", "count": 6, "share": 23.076923076923077, "share_label": "23.1%", "tone": "positive"}, {"label": "Modest gains", "count": 4, "share": 15.384615384615385, "share_label": "15.4%", "tone": "positive"}, {"label": "Flat weeks", "count": 0, "share": 0.0, "share_label": "0.0%", "tone": "neutral"}, {"label": "Modest losses", "count": 6, "share": 23.076923076923077, "share_label": "23.1%", "tone": "negative"}, {"label": "Sharp losses", "count": 10, "share": 38.46153846153847, "share_label": "38.5%", "tone": "negative"}], "insights": [{"label": "Recent vol", "value": "6.6%", "detail": "13-week weekly-return volatility.", "tone": "neutral"}, {"label": "Base vol", "value": "6.5%", "detail": "52-week weekly-return volatility.", "tone": "neutral"}, {"label": "Up/down split", "value": "18/34", "detail": "Count of positive and negative weeks in the 52-week window.", "tone": "negative"}, {"label": "Average skew", "value": "5.0% / -4.7%", "detail": "Average positive week versus average negative week.", "tone": "neutral"}]}, "signals": [{"label": "Trend backdrop", "value": "Inactive", "tone": "negative"}, {"label": "Activity pressure", "value": "No fresh buy", "tone": "neutral"}, {"label": "Price vs Trend", "value": "-13.5%", "tone": "negative"}, {"label": "Volume", "value": "1.0x", "tone": "neutral"}], "opportunities": ["Activity pressure is positive on the latest completed week."], "risks": ["The trend backdrop is inactive, so price action has not confirmed a constructive regime.", "Price is below the Trend Line, which keeps downside pressure in focus.", "Price is below Fair Value, so the market is still discounting the latest tape.", "Activity pressure is weak, so confirmation is not yet broad enough.", "The share remains more than 20% below its 52-week high."], "watch_points": ["Trend Line remains the key weekly regime level.", "Activity pressure is the gauge to monitor for confirmation or fade.", "A volume ratio above 1.5x would show stronger participation in the next move."], "recent_rows": [{"week": "2026-08-07", "close": "37.38 HKD", "return": null, "return_tone": null, "trend_line": "43.24 HKD", "fair_value": "51.47 HKD", "activity_pressure": "1.01", "relative_leadership": "-37.63", "volume": "7.1M", "trend_backdrop": null}, {"week": "2026-07-31", "close": "38.50 HKD", "return": null, "return_tone": null, "trend_line": "44.27 HKD", "fair_value": "51.38 HKD", "activity_pressure": "0.92", "relative_leadership": "-37.32", "volume": "11.8M", "trend_backdrop": null}, {"week": "2026-07-24", "close": "34.30 HKD", "return": null, "return_tone": null, "trend_line": "45.30 HKD", "fair_value": "51.29 HKD", "activity_pressure": "0.69", "relative_leadership": "-42.92", "volume": "10.0M", "trend_backdrop": null}, {"week": "2026-07-17", "close": "36.58 HKD", "return": null, "return_tone": null, "trend_line": "46.46 HKD", "fair_value": "51.24 HKD", "activity_pressure": "0.54", "relative_leadership": "-39.07", "volume": "10.3M", "trend_backdrop": null}, {"week": "2026-07-10", "close": "35.04 HKD", "return": null, "return_tone": null, "trend_line": "47.58 HKD", "fair_value": "51.18 HKD", "activity_pressure": "0.33", "relative_leadership": "-41.63", "volume": "5.7M", "trend_backdrop": null}, {"week": "2026-07-03", "close": "34.74 HKD", "return": null, "return_tone": null, "trend_line": "48.81 HKD", "fair_value": "51.15 HKD", "activity_pressure": "0.20", "relative_leadership": "-40.91", "volume": "2.4M", "trend_backdrop": null}, {"week": "2026-06-26", "close": "31.46 HKD", "return": null, "return_tone": null, "trend_line": "50.08 HKD", "fair_value": "51.11 HKD", "activity_pressure": "0.06", "relative_leadership": "-45.61", "volume": "1.7M", "trend_backdrop": null}, {"week": "2026-06-19", "close": "33.94 HKD", "return": null, "return_tone": null, "trend_line": "51.40 HKD", "fair_value": "51.10 HKD", "activity_pressure": "-0.03", "relative_leadership": "-45.06", "volume": "6.0M", "trend_backdrop": null}, {"week": "2026-06-12", "close": "36.38 HKD", "return": null, "return_tone": null, "trend_line": "52.57 HKD", "fair_value": "51.06 HKD", "activity_pressure": "-0.16", "relative_leadership": "-43.70", "volume": "1.6M", "trend_backdrop": null}, {"week": "2026-06-05", "close": "35.90 HKD", "return": null, "return_tone": null, "trend_line": "53.82 HKD", "fair_value": "51.04 HKD", "activity_pressure": "-0.44", "relative_leadership": "-45.61", "volume": "2.3M", "trend_backdrop": null}, {"week": "2026-05-29", "close": "35.34 HKD", "return": null, "return_tone": null, "trend_line": "55.50 HKD", "fair_value": "51.00 HKD", "activity_pressure": "-0.72", "relative_leadership": "-47.47", "volume": "9.9M", "trend_backdrop": null}, {"week": "2026-05-22", "close": "35.84 HKD", "return": null, "return_tone": null, "trend_line": "57.20 HKD", "fair_value": "50.96 HKD", "activity_pressure": "-1.02", "relative_leadership": "-48.17", "volume": "12.9M", "trend_backdrop": null}, {"week": "2026-05-15", "close": "33.80 HKD", "return": null, "return_tone": null, "trend_line": "58.99 HKD", "fair_value": "50.92 HKD", "activity_pressure": "-1.26", "relative_leadership": "-52.28", "volume": "13.3M", "trend_backdrop": null}, {"week": "2026-05-08", "close": "37.40 HKD", "return": null, "return_tone": null, "trend_line": "60.69 HKD", "fair_value": "50.90 HKD", "activity_pressure": "-1.33", "relative_leadership": "-48.58", "volume": "7.5M", "trend_backdrop": null}], "intelligence": {"rating": "Caution", "rating_tone": "negative", "overall_score": "37", "primary_driver": {"label": "Sentiment", "score": 58.0, "score_label": "58", "tone": "neutral", "summary": "Weighted news tone is positive across 30 relevant articles.", "detail": "Why is Tencent Music Entertainment stock tumbling today?", "metric": "58/100", "url": "/sentiment/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 0.95}, "primary_conflict": {"label": "Indicator analysis", "score": 23.111111111111107, "score_label": "23", "tone": "negative", "summary": "Latest 12-week confirmation: trend 0/12, activity pressure 7/12, relative leadership 0/12.", "detail": "Activity pressure 0.14; No reversal markers", "metric": "23/100", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 1.45}, "options_tone": "neutral", "options": null, "evidence": [{"label": "Weekly tape", "score": 30.467938005488843, "score_label": "30", "tone": "negative", "summary": "Trend, activity pressure, participation, and risk combine to a 30/100 tape read.", "detail": "", "metric": "30/100", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 1.6}, {"label": "Indicator analysis", "score": 23.111111111111107, "score_label": "23", "tone": "negative", "summary": "Latest 12-week confirmation: trend 0/12, activity pressure 7/12, relative leadership 0/12.", "detail": "Activity pressure 0.14; No reversal markers", "metric": "23/100", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 1.45}, {"label": "Factors", "score": 50.0, "score_label": "50", "tone": "neutral", "summary": "No published factor snapshot is available yet.", "detail": "", "metric": "50/100", "url": "/factors/", "available": false, "weight": 0}, {"label": "Patient Capital", "score": 48.0, "score_label": "48", "tone": "neutral", "summary": "Activity-pressure buy-signal evidence highlights potential institutional accumulation windows.", "detail": "No recent buy signal", "metric": "Quiet", "url": "/patient-capital/", "available": true, "weight": 1}, {"label": "Sentiment", "score": 58.0, "score_label": "58", "tone": "neutral", "summary": "Weighted news tone is positive across 30 relevant articles.", "detail": "Why is Tencent Music Entertainment stock tumbling today?", "metric": "58/100", "url": "/sentiment/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 0.95}, {"label": "Insiders", "score": 50.0, "score_label": "50", "tone": "neutral", "summary": "No recent insider transaction evidence is stored.", "detail": "", "metric": "50/100", "url": "/insider-activity/", "available": false, "weight": 0}, {"label": "Earnings", "score": 50.0, "score_label": "50", "tone": "neutral", "summary": "No stored earnings event is currently attached to this ticker.", "detail": "", "metric": "50/100", "url": "/earnings-calendar/", "available": false, "weight": 0}], "positives": [], "negatives": [{"label": "Indicator analysis", "score": 23.111111111111107, "score_label": "23", "tone": "negative", "summary": "Latest 12-week confirmation: trend 0/12, activity pressure 7/12, relative leadership 0/12.", "detail": "Activity pressure 0.14; No reversal markers", "metric": "23/100", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 1.45}, {"label": "Weekly tape", "score": 30.467938005488843, "score_label": "30", "tone": "negative", "summary": "Trend, activity pressure, participation, and risk combine to a 30/100 tape read.", "detail": "", "metric": "30/100", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 1.6}], "conclusion": ["The strongest supporting evidence is sentiment: Weighted news tone is positive across 30 relevant articles.", "The main constraint is indicator analysis: Latest 12-week confirmation: trend 0/12, activity pressure 7/12, relative leadership 0/12.", "The combined read is defensive, so risk control and evidence of stabilization matter more than headline upside."], "weekly_changes": [{"label": "Price follow-through", "value": "-2.9%", "detail": "Latest completed week; four-week move 6.7%.", "tone": "negative", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/"}, {"label": "Indicator stack", "value": "15/85", "detail": "Trend and activity pressure are weighted against the latest 12-week confirmation window.", "tone": "negative", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/"}, {"label": "Trend backdrop", "value": "Active", "detail": "The trend backdrop defines the current weekly regime.", "tone": "positive", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/"}, {"label": "Patient Capital", "value": "Quiet", "detail": "Activity-pressure buy-signal status for institutional accumulation timing.", "tone": "neutral", "url": "/patient-capital/"}, {"label": "News sentiment", "value": "58/100", "detail": "30 relevant articles in the latest sentiment read.", "tone": "neutral", "url": "/sentiment/e073fd60-febc-41a6-9611-f597c946f944/"}]}, "investor_view": {"stance": "Mixed setup", "stance_tone": "neutral", "setup_score": "36", "bottom_line": "The weekly trend is not active. Price is -13.5% below the Trend Line and sits at 8.6% of its 52-week range. The latest completed week returned -2.9%, after a 6.7% four-week move. The latest news-sentiment score is 58/100.", "price_summary": "The weekly trend is not active. Price is -13.5% below the Trend Line and sits at 8.6% of its 52-week range. The latest completed week returned -2.9%, after a 6.7% four-week move.", "volume_summary": "Latest weekly volume is 1.0x the 13-week average. Participation is around or above normal and provides reasonable confirmation.", "momentum_summary": "Performance is 6.7% over four weeks, 10.6% over 12 weeks, and -56.2% over one year. The current trend has remained active for 0 consecutive weeks.", "fundamentals": {"available": false, "summary": "A published fundamentals and factor snapshot is not available for this company.", "rank_scores": [], "groups": []}, "weekly_change": [{"label": "Price follow-through", "value": "-2.9%", "detail": "Latest completed week; four-week move 6.7%.", "tone": "negative", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/"}, {"label": "Indicator stack", "value": "15/85", "detail": "Trend and activity pressure are weighted against the latest 12-week confirmation window.", "tone": "negative", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/"}, {"label": "Trend backdrop", "value": "Active", "detail": "The trend backdrop defines the current weekly regime.", "tone": "positive", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/"}, {"label": "Patient Capital", "value": "Quiet", "detail": "Activity-pressure buy-signal status for institutional accumulation timing.", "tone": "neutral", "url": "/patient-capital/"}, {"label": "News sentiment", "value": "58/100", "detail": "30 relevant articles in the latest sentiment read.", "tone": "neutral", "url": "/sentiment/e073fd60-febc-41a6-9611-f597c946f944/"}], "strengths": ["Activity pressure is positive on the latest completed week."], "risks": ["The trend backdrop is inactive, so price action has not confirmed a constructive regime.", "Price is below the Trend Line, which keeps downside pressure in focus.", "Price is below Fair Value, so the market is still discounting the latest tape.", "Activity pressure is weak, so confirmation is not yet broad enough."], "watch_points": ["Trend Line remains the key weekly regime level.", "Activity pressure is the gauge to monitor for confirmation or fade.", "A volume ratio above 1.5x would show stronger participation in the next move."], "evidence": {"weekly_tape": {"label": "Weekly tape", "score": 30.467938005488843, "score_label": "30", "tone": "negative", "summary": "Trend, activity pressure, participation, and risk combine to a 30/100 tape read.", "detail": "", "metric": "30/100", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 1.6}, "indicator_analysis": {"label": "Indicator analysis", "score": 23.111111111111107, "score_label": "23", "tone": "negative", "summary": "Latest 12-week confirmation: trend 0/12, activity pressure 7/12, relative leadership 0/12.", "detail": "Activity pressure 0.14; No reversal markers", "metric": "23/100", "url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 1.45}, "factors": {"label": "Factors", "score": 50.0, "score_label": "50", "tone": "neutral", "summary": "No published factor snapshot is available yet.", "detail": "", "metric": "50/100", "url": "/factors/", "available": false, "weight": 0}, "patient_capital": {"label": "Patient Capital", "score": 48.0, "score_label": "48", "tone": "neutral", "summary": "Activity-pressure buy-signal evidence highlights potential institutional accumulation windows.", "detail": "No recent buy signal", "metric": "Quiet", "url": "/patient-capital/", "available": true, "weight": 1}, "sentiment": {"label": "Sentiment", "score": 58.0, "score_label": "58", "tone": "neutral", "summary": "Weighted news tone is positive across 30 relevant articles.", "detail": "Why is Tencent Music Entertainment stock tumbling today?", "metric": "58/100", "url": "/sentiment/e073fd60-febc-41a6-9611-f597c946f944/", "available": true, "weight": 0.95}, "insiders": {"label": "Insiders", "score": 50.0, "score_label": "50", "tone": "neutral", "summary": "No recent insider transaction evidence is stored.", "detail": "", "metric": "50/100", "url": "/insider-activity/", "available": false, "weight": 0}, "earnings": {"label": "Earnings", "score": 50.0, "score_label": "50", "tone": "neutral", "summary": "No stored earnings event is currently attached to this ticker.", "detail": "", "metric": "50/100", "url": "/earnings-calendar/", "available": false, "weight": 0}}, "section_nav": [{"id": "overview", "label": "Overview"}, {"id": "price-action", "label": "Price"}, {"id": "volume-demand", "label": "Volume"}, {"id": "momentum", "label": "Momentum"}, {"id": "fundamentals", "label": "Fundamentals"}, {"id": "ownership-flow", "label": "Ownership & Flow"}, {"id": "catalysts-risk", "label": "Catalysts & Risk"}, {"id": "peer-context", "label": "Peer Context"}, {"id": "weekly-data", "label": "Weekly Data"}]}, "chart_url": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/", "api_path": "/terminal/e073fd60-febc-41a6-9611-f597c946f944/report/api/"}