(Bloomberg) — Tencent Holdings Ltd.’s shares just hit three milestones in a single day.
The Chinese internet and gaming giant rose 4.9% to a record HK$497.40 in Hong Kong on Tuesday, leapfrogging Alibaba Group Holding Ltd. as Asia’s most valuable company. It’s also now doubled in value since a low in 2018, a year in which China’s restrictions on online games triggered the world’s biggest wipeout of shareholder wealth. The Shenzhen-based firm is worth $613 billion, the seventh most globally.
Tencent has for years captivated investors and analysts with its massively popular online gaming business, payments system and WeChat social