(Yicai Global) July 20 -- Chinese internet giant Tencent Holdings Ltd. [HKG:0700] has seen its share price rise for several days as investment banks continue to give it a 'buy' rating.

The price passed HKD300 (USD38.4) in early trading today, valuing the company at more than HKD2.8 trillion (USD358.6 billion). Its shares have increased almost 8 percent this month and 55 percent this year.

WeChat, Tencent's social networking and lifestyle platform has added a number of new functions to its mini-apps, which will help boost is development, Japanese financial holding firm Nomura [TYO:8604] said in a research note. The application is offering more advertising services targeting users in first-tier cities through its 'moments' feature, akin to Facebook's 'wall,' with strong demand and a high price at CNY150 (USD22.2) per 1,000 views, the firm said on why it maintained its buy rating.

Media earlier criticized King of Glory, a Tencent mobile game akin to League of Legends, which is owned by one of its subsidiaries, for having an adverse effect on teenagers. This led to the biggest decline in share price for six months but the gaming juggernaut quickly recovered. Both Citi and BOCOM International hold buy ratings in their reports, while UBS said fears about policy risks in the game have been over-exaggerated, and it provided a good opportunity to buy.

The share price was down 0.34 percent at HKD298 at close today.