China’s Tencent overtakes Facebook in market value

Date: 12:40, 22-11-2017.

Almaty. November 22. Silkroadnews - China’s Tencent overtakes Facebook in market value, information portal Rappler says.
“China’s social media and video game giant Tencent overtook Facebook in market value on Tuesday, November 21, as investors sent the company soaring to the top 5 list of the world’s biggest firms,” the report said.
This year shares of Tencent, traded in Hong Kong, have increased by half, and the company’s earnings outmatched the expectations of analysts.
On Tuesday afternoon, the market capitalization of Tencent reached 4.15 trillion Hong Kong dollars ($531 billion), surpassing Facebook, estimated at $519 billion.
However, Tencent is still behind Apple, which is currently estimated at $873 billion.
Tencent has almost a billion users of WeChat messenger, in which people can communicate, post photos, play games, transfer money and pay for various services in China.

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