#Economy
No Chinese Stock Left Among Global Top 10 as #Tencent Slides
//Tencent Holdings Ltd. has lost its place among the world’s 10 largest companies by market value, leaving no Chinese company in the list as Bejing’s regulatory crackdown continues to wreak havoc on the stock market.
Hong Kong-listed shares of the gaming and social media company fell 0.5% Thursday, valuing it at $556 billion. That’s just below U.S. chipmaker Nvidia Corp., data compiled by Bloomberg shows.
This is the first time that a Chinese company isn’t among the world’s ten largest since 2017, the data show. Tencent’s unseating follows that of #Alibaba Group Holding Ltd. earlier this year, as China’s tech behemoths face tougher rules on everything from monopolistic practices to data security and kids’ gaming hours.//
Source: Bloomberg #Sept16
https://www.bloomberg.com/news/articles/2021-09-16/tencent-s-slide-leaves-china-with-no-stocks-in-global-top-10
#CCP #HengSengIndex #ChinaMarket #StockMarket
No Chinese Stock Left Among Global Top 10 as #Tencent Slides
//Tencent Holdings Ltd. has lost its place among the world’s 10 largest companies by market value, leaving no Chinese company in the list as Bejing’s regulatory crackdown continues to wreak havoc on the stock market.
Hong Kong-listed shares of the gaming and social media company fell 0.5% Thursday, valuing it at $556 billion. That’s just below U.S. chipmaker Nvidia Corp., data compiled by Bloomberg shows.
This is the first time that a Chinese company isn’t among the world’s ten largest since 2017, the data show. Tencent’s unseating follows that of #Alibaba Group Holding Ltd. earlier this year, as China’s tech behemoths face tougher rules on everything from monopolistic practices to data security and kids’ gaming hours.//
Source: Bloomberg #Sept16
https://www.bloomberg.com/news/articles/2021-09-16/tencent-s-slide-leaves-china-with-no-stocks-in-global-top-10
#CCP #HengSengIndex #ChinaMarket #StockMarket