Hi-Tech

Chinese tech giant Tencent exceeds Facebook with net worth of $522 billion

Chinese tech giant Tencent exceeds Facebook with net worth of $522 billion

"Tencent's high growth, as demonstrated by its quarterly results, has supported the rally in its shares".

We're talking about some of the biggest companies in the world that include Google/Alphabet, Facebook, Microsoft, Microsoft, NVIDIA, Amazon, and more.

"Hong Kong valuations are still attractive and H-share financials look like a safe bet", said Sam Chi Yung, a Hong Kong-based senior strategist with South China Financial Holdings Ltd. Since then, it has rallied over 11,000 percent.

Tencent now sits alongside a handful of United States companies you are much more likely to have heard of: Apple, Amazon and Microsoft.

Tencent's share price was lifted by the announcement that it would roll out its WeChat payment services in Malaysia next year.

Steven Leung, a sales director at UOB Kay Hian said that the company earned 69 percent more net profit in third-quarter. It brings the personal wealth of Tencent founder and chief executive Ma Huateng close to US$47 billion.




Tencent has almost one billion users on its popular WeChat phone platform, where people can chat, post photos, play games, transfer money and pay for a variety of services in China. Supercell is the company behind the addictive worldwide phenomenon, Clash of Clans.

However, the company is not satisfied.

Over the past year, several Tencent subsidiaries have also made stellar market debuts in Hong Kong and the USA, most recently its online publishing platform China Literature, which almost doubled in price on its first trading day this month.

The company also has a stake in Snap, the company behind Snapchat, ride-sharing app Lyft and electric-vehicle maker Tesla. The company has also invested in a number of Asian based start-ups including Uber's Indian rival, Ola.

Tencent is certainly creeping up on USA based firms like Facebook, with its $520.14 billion and Amazon, now valued at $544.46 billion.


  • Mubi attack: Death toll rises to 50

    Mubi attack: Death toll rises to 50

    Boko Haram rarely claims attacks but the method is in keeping with tactics seen elsewhere in the long-running conflict. The cause of the explosion was the teenage suicide bomber, who came there with a suicide vest.
    Lebanon's Al-Hariri arrives in Cairo for talks with Sisi

    Lebanon's Al-Hariri arrives in Cairo for talks with Sisi

    Saad Hariri had unexpectedly resigned as Prime Minister from Saudi Arabia resulting in a political crisis in the region. Al-Hariri's resignation has not yet been approved by Lebanon's president.
    Argentina says calls did not come from missing submarine

    Argentina says calls did not come from missing submarine

    He says the sounds did not come from tools being banged against the hull of a submarine as was previously reported by some media. The location of the noise coincided with the route the submarine would have taken on the way to its home port in Mar del Plata.
  • FCC could change what you see on the web

    FCC could change what you see on the web

    The net neutrality rules gave the FCC power to go after companies for business practices that weren't explicitly banned as well. He said earlier this year "people tell me that they want fast, affordable and reliable internet access".
    The Salvation Army Red Kettle Kick-off begins Saturday

    The Salvation Army Red Kettle Kick-off begins Saturday

    Volunteers would spend time with the residents, get to know them and participate in activities while forming a relationship. A few red buckets went out about a week ago and people have been in a holiday mood and donating generously, Smith said.

    Reports indicate that Samsung will improve their Facial Recognition with software updates

    A support page went up on Samsung's website for an SM-G888N0 handset, as spotted by Dutch-language site MobielKopen . For starters, the rumored Galaxy X will supposedly feature foldability, which is due to a series of hinges.
  • Europe's Toxic Radiation Cloud Remains A Mystery

    Europe's Toxic Radiation Cloud Remains A Mystery

    Mayak is also the site, in 1957 , of the world's third worst nuclear disaster , topped only by Chernobyl and Fukushima . The exact source of the spike, however, remains unknown, though IRSN suggested that the cause might be an accident.
    Taylor Swift's 'Reputation' Is 2017's Top Album With Platinum Week

    Taylor Swift's 'Reputation' Is 2017's Top Album With Platinum Week

    Her albums " Red " and " Speak Now " each sold 1.21 and 1.05 million copies when they released in 2012 and 2010, respectively. Her albums got the biggest opening week for any album in 2017, beating Drake's " More Life" (OVO/Republic).
    Sri Lanka escape with a draw in Kolkata

    Sri Lanka escape with a draw in Kolkata

    Lakmal and Dasun Shanaka picked up three wickets apiece, while Lahiru Gamage and Dilruwan Perera chipped in with one wicket each. India made certain of not losing by declaring their second innings almost 50 overs into the day, just before tea.
  • Consciously coupling. Paltrow engaged to Glee producer

    Consciously coupling. Paltrow engaged to Glee producer

    In March of 2014, Paltrow and Coldplay frontman Chris Martin infamously made a decision to " consciously uncouple ". Much like the entirety of your Facebook feed in the coming days, Paltrow just accepted a holiday proposal.
    Military police officer fatally shoots robbers while holding baby in Brazil

    Military police officer fatally shoots robbers while holding baby in Brazil

    After shooting the duo Sergeant Souza can be seen quickly handing the baby over to his wife, who cowered behind shelves. Souza, of the 49th Metropolitan Battalion, said that the suspect meant to shoot him so he reacted and shot him first.
    Resign Now or face humiliation- new Zanu PF leader Mnangagwa

    Resign Now or face humiliation- new Zanu PF leader Mnangagwa

    Mugabe goes, will receive a concession to stay in Zimbabwe and have his family economic interests protected". Thousands of protesters demanded Saturday that Mugabe leave the presidency, which he has held since 1980.