Декабря 14, 2017


Tencent becomes first Asian company to be valued over US$500 billion

23 Ноября 2017, 12:27 | Rudolph Thomas

Chinese internet giant Tencent surpasses Facebook in valuation

Tencent becomes the first Chinese tech firm valued over $500B

Tencent joins other major U.S. tech companies such as Amazon, Facebook, Apple, and Alphabet, who have all also surpassed the $500 billion valuation mark.

The technology firm, which has its base in China, is the first Asian company to reach such a high number.

Tencent is well known in the industry as the manufacturer of the instant messaging app, WeChat, not to mention a number of online games. Alibaba is now the world's seventh largest company, with a market value of $481 billion, according to Bloomberg.

Tencent becomes the first Chinese tech firm valued over $500B
China's biggest social media company Tencent is now worth more than Facebook

Hong Kong's Hang Seng Index cleared the 30,000 barrier for the first time in a decade in early trading on Wednesday, as financial companies rallied. Since then, it has rallied 11,251 per cent. Tencent's stock this year alone is up 121.4 per cent.

Despite its phenomenal growth, Tencent is way behind the world's most valuable company, Apple, which is now valued at $873bn. The company reportedly raised $8.3 billion Hong Kong dollars ($1.1 billion) after Tencent priced its 151 million shares at $55 Hong Kong dollars ($7.05) per piece.

Tencent has almost one billion users on its popular WeChat phone platform, where people can chat, post photos, play games, transfer money and pay for a variety of services in China.

Читайте также: Turkeys stay at Washington, DC hotel ahead of Presidential pardon

Chinese stocks glowed red hot in Hong Kong on Tuesday, with heavyweight Ping An Insurance Group Co. and China Pacific Insurance Group Co. surging more than 7 percent amid optimism over earnings growth. Revenue rose by 61% thanks to its games division, which focuses on PC and mobile.

Other fast-growing parts of the business include digital content such as video, as well as online advertising. It has acquired stakes in both Tesla and Snap, and invested in numerous start-ups in Asia including India's Uber rival Ola. Barclays increased the price target to $59 from $49 for Tencent and increased its forecast for revenue for both 2018 and 2019.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2017 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог



Other News

Trending Now

Trump Foundation Seeks To Dissolve, Again
The donations arrived during a year when New York's attorney general opened an investigation into the foundation's finances. While Trump had not donated to the charity since 2008, he had drawn money from it for personal uses.

Three LeT terrorists from Pakistan killed in north Kashmir encounter
A senior police officer of Jammu and Kashmir police confirmed the death of an Indian Army jawan in the encounter. At least eight rebels, an Indian air force commando and a policeman have been killed in the last two days.

Trump Responds to the Thanks from Detained UCLA Players in China
Ball in EPSN's report on Saturday also downplayed his son's theft, arguing that "one bad decision doesn't define him". Trump said "you're welcome" and then encouraged the players to have a great life while being cautious.

Rio Ferdinand reacts to Man United's 1-0 loss at Basel
I chose to play Marcus Rashford and Martial together. "They rode the storm and showed great experience, great character". Man United will also qualify if they lose and CSKA Moscow failed to beat bottom side Benfica in the group's other game.

Kris Jenner Confirms Kylie And Khloe's Pregnancies With This Instagram Post!
Fans noticed that while Jenner now has six grandchildren, there were actually nine bundles of pajamas in the photo. The nine pajama sets are labeled with names of her grandchildren.

OnePlus 5 will be discontinued when remaining inventory runs dry
Unlike what some initial users of OnePlus 5 had reported, we did not find any traces of "jelly scroll effect" on this device. Quick refresher - what in the world is Project Treble? This leads to easier and faster customisation of Android by OEMs.

Priya Ranjan Dasmunsi, former Congress leader dies at 72
The leader, who had been in a coma since 2008 after suffering a brain stroke, died at Apollo Hospital in New Delhi , doctors said. He also served as the President of the All India Football Association for nearly 20 years.

Broncos fire OC Mike McCoy, promote Ex-Raiders OC Bill Musgrave
The Broncos have the ninth-worst scoring offense in the NFL. "We've lost six in a row". He was sacked after last season and returned to Denver under new coach Vance Joseph.

Images show North Korea's 'submarine ballistic missile programme'
Ambassador to Japan William Hagerty stressed that Trump's primary focus is on security, not trade. It said these appeared larger than those for North Korea's ROMEO-class attack submarine.

Gujarat Assembly Elections: Hardik Patel To Lend Support To Congress Party
Finance Minister Arun Jaitley said the "Congress-Hardik club" is one of mutual deception. Last week, it was reaffirmed that the 50 per cent reservation cap can not be breached.