Tencent Overtakes Facebook

Chinese social networking firm has now become the fifth-largest company in the world after its shares hit a record high in Hong Kong

Tencent mascots

Hong Kong-listed social networking firm Tencent (00700) has overtaken Facebook (FB) in terms of market value, after its shares hit a record high on Tuesday.

The company’s valuation reached reached 4.15 trillion Hong Kong dollars ($531 billion), beating the US social network's $519 billion and in the process becoming the fifth-largest company in the world, just behind Amazon (AMZN).

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Amazon.com Inc3,217.01 USD0.31
Ford Motor Co7.74 USD1.98
Tencent Holdings Ltd567.00 HKD0.44

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Morningstar Equity Analysts  Morningstar stock and fund analysts cover 2,000 mutual funds, 2,100 equities, and 300 exchange-traded funds.

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