China’s Tencent Becomes More Valuable Than Facebook

China’s Tencent Becomes More Valuable Than Facebook

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Added by November 22, 2017

Chinese social media and video game giant Tencent became more valuable than Facebook on Tuesday as investors sent the company soaring into the top five of the world’s biggest firms.

Tencent’s Hong Kong-listed shares have doubled in value this year, and on Monday it became the first Asian company with a market capitalisation of half a trillion dollars.

By the end of the trading day on Tuesday, Tencent’s outstanding shares were worth a combined 4.08 trillion Hong Kong dollars ($523 billion), surpassing Facebook’s $519 billion.

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