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Business

REUTERS
May 18, 2018

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Tencent’s market value soars

HONG KONG: Robust earnings from Tencent Holdings sent its market value surging by as much as $34 billion on Thursday, helping the Chinese technology giant briefly reclaim the mantle of Asia´s most valuable listed company.

The social media and gaming firm had posted on Wednesday better-than-expected net profit and gross profit margin for the first quarter, driven by the strong performance of its mobile gaming business and gains in its sprawling investment operations.

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