Caixin
Nov 18, 2017 12:48 AM
BUSINESS & TECH

Quick Take: Tencent’s Market Cap Exceeds $480 Bln as Stock Surges

Shenzhen-based Tencent reported better-than-expected results for the third quarter earlier this week. Photo: CFP
Shenzhen-based Tencent reported better-than-expected results for the third quarter earlier this week. Photo: CFP

Hong Kong-traded shares of China social media giant Tencent Holdings surged to a record high Friday after the company posted strong quarterly growth, pushing up the company’s market cap to HK$3.8 trillion ($486 billion).

Shares of Shenzhen-based Tencent, which runs the popular messaging app WeChat, climbed as high as HK$405 each in early trading Friday. The stock closed at an all-time high of HK$403.40, up almost 3% from the previous day.

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