Tencent Rides Hit Game for China’s Biggest Gain in Market Value
- Shares up 28% this year, adding $91 billion in market cap
- DnF Mobile firm’s most successful game in five years: Goldman
DnF Mobile has secured the top spot in China’s game app ranks since its debut, spurring hopes Tencent may have found its next blockbuster.
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A hot new online game is refueling investor optimism for Tencent Holdings Ltd., driving China’s biggest stock boost of 2024.
Its shares have rallied 27% so far this year with help from the strong debut of Dungeon & Fighter Mobile, adding $91 billion in market value, more than any other Chinese company. Improved regulatory and business climates in the company’s key markets are also helping drive expectations.