Latest news from CNBC:
Tencent’s market capitalization has surpassed Facebook’s following a huge rally in the Chinese firm’s shares this year.
The gaming and social media giant’s market cap stood at 5.15 trillion Hong Kong dollars ($664.50 billion) at around 3:07 p.m. Singapore time. Meanwhile, Facebook’s market cap totaled $656.15 billion as of Tuesday’s close.
Tencent shares have rallied around 43% year-to-date, compared to just over 12% for Facebook. That has added around 1.53 trillion Hong Kong dollars ($197.74 billion) onto Tencent’s value.
Source: CNBC
Interesting to see how it goes from here as alot of the big banks has Tencent's target price above 600.
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