Tencent hits US$206b market cap
Source: Agencies |
April 14, 2015, Tuesday
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Print Edition
Print Edition
TENCENT for the first time hit a market cap of over US$200 billion yesterday, making it more valuable than US tech firms like Amazon.com, IBM and Oracle.
China’s biggest social networking and online entertainment firm rose 5.38 percent to HK$170.50 (US$22) in Hong Kong trading, giving it a market valuation of US$206 billion — higher than Oracle’s US$190 billion, Amazon’s US$178 billion and IBM’s US$161 billion.
Tencent’s shares have surged 52 percent from the start of this year, bringing its valuation close to those of Facebook’s US$230 billion and rival Alibaba Group’s US$210 billion.
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