It became known that Tencent Holding has lost its place in the list of the ten largest companies in the world in terms of market value, according to Bloomberg. Thus, not a single Chinese company remained in the ranking. This was facilitated by the actions of the Chinese industry regulators, which have introduced many restrictions in recent months. On Thursday, Tencent shares traded in Hong Kong lost 0.5%, which caused the market value of the Chinese IT giant to fall to $ 556 billion. billion. The first place in the ranking is occupied by Apple, whose value is estimated at $ 2.46 trillion, followed by Microsoft ($ 2.29 trillion) and Alphabet ($ 1.93 trillion). Note that this is the first time since 2017 that a Chinese company was not included in the list of the ten most expensive enterprises in the world. Tencent dropped out of the list after another representative of the Middle Kingdom in the person of Alibaba Group, which ceased to be included in the mentioned rating at the beginning of the year. The decline in the value of Chinese companies is due to the actions of local regulators, which have introduced many restrictions, ranging from the fight against monopoly position in the market and ending with changes in the rules for processing and storing user data. Tencent’s stock hit an all-time high in January this year, but the IT giant has lost about $ 388 billion in market value since then. Hong Kong’s Hong Seng Index is performing the worst this month, with Tencent and Alibaba in the hardest hit. There are currently no signs that the situation will change soon as the Chinese authorities’ campaign to tighten regulation continues to evolve. If you notice an error, select it with the mouse and press CTRL + ENTER.
