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