META - OVER NEXT FEW YEARS, WE WILL DEPLOY MORE ADVANCED AI SYSTEMS ACROSS OUR APPS

Gold prices dropped below $4,800 an ounce, pressured by a firmer dollar and fading expectations for near-term rate cuts. In early European trading, futures fell 2.9% to $4,755, while the U.S. dollar index edged up to 100.18, making gold costlier for overseas buyers. The Fed held rates steady but flagged inflation risks from higher energy prices. ING noted that while Middle East tensions and rising oil typically support safe-haven demand, the inflationary impact is weighing on gold.

Citi said Tencent’s plan to more than double AI investment in 2026 could slow profit growth relative to revenue in the near term, but sees this as temporary. Strong earnings from its core business should help offset higher spending and keep growth on track. The firm maintains Tencent as a top China AI pick, citing its track record of late entry and leadership. The rollout of Hunyuan 3.0 and a superapp AI agent could act as near-term catalysts. Citi reiterates a buy rating and lifts its target price to HK$787 from HK$783.