Tencent Becomes First Chinese Tech Firm Valued over $500 Billion

Tencent has become the first Chinese company to be valued at more than $500 billion in Asia.

Shares of the 19-year-old company, which is listed on the Hong Kong Stock Exchange, rallied to reach HK $418.80 to give it a market cap of HK$3.99 trillion which takes past the $500 billion mark. Alibaba is Asia’s second-highest-valued firm at $474 billion.
News in-a-line:
Tencent- first Chinese company to be valued at more than $500 billion in Asia- Alibaba Second.

Static/Current Takeaway Points Important for IBPS PO Mains 2017 Exam-

  1. Tencent President- Martin Lau, Founded in- 1998.
Source- Techcrunch


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