No Chinese Stock Left Among Global Top 10 as Tencent Slides
Firm’s value has shrunk $388 billion amid tech crackdown
Chinese stocks drop off league table for first time since 2017
WATCH: Traders rush to dump Chinese tech stocks as Beijing moved to temporarily slow down new online game approvals. Peter Elstrom reports.(Source: Bloomberg)
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.
