Chinese company, Tencent Holdings is about to lose its top 10 ranking as one of the world’s largest companies by market value as its Hong-Kong-listed shares fell close to 2% this morning.
The drop of the internet giant to 11th place in the list of the world's largest companies, with a current market cap of $522bn, means there are no Chinese names left within the top 10. Managers remain optimistic on China despite regulatory crackdown The main driver behind Tencent's fall from the top 10 is Beijing's regulatory crackdown which is having a significant impact on the stock market. According to a list compiled by Bloomberg, US chipmaker, Nvidia Corp now sits in 10th place with a market cap of $559bn. Topping the list is Apple, with a $2.46trn market cap, closely foll...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
