Beijing — Tencent, the Chinese social media and video game giant in which Naspers has a roughly one-third stake, overtook Facebook in market value on Tuesday, as investors sent the company soaring to the top five list of the world’s biggest firms. Tencent’s shares, traded in Hong Kong, have doubled in value this year as the tech company’s earnings have repeatedly outmatched analysts’ expectations. A second stock connection with mainland China which opened late last year has allowed even more money to flow onto the semi-autonomous city’s exchange.
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