China's Tencent drops out of world's largest 10 companies

Chinese internet giant plagued by tightening regulations from Beijing

clock • 1 min read

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...

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