Tencent becomes 10th biggest company

The Chinese internet titan has overtaken Wells Fargo by market value

Tencent Holdings, a Chinese internet titan best known for its WeChat messaging service and gaming, has overtaken Wells Fargo by market value, joining the likes of Apple and Alphabet in the ranks of the world’s biggest publicly traded companies. Tencent gained 1.6 per cent Wednesday in Hong Kong, vaulting its capitalisation to $279 billion — just a shade above that of the US lender. Six of the top 10 companies by market value are now technology, including all of the top four. Here is a snapshot: