Chinese tech giant Tencent has surpassed Facebook in market value

[McFurd]

Business Insider - 11/21/2017 - Sijia Jiang, Reuters - China's biggest social network and gaming firm, Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters. Tencent has made a "breakthrough" in gaining an e-payment license in Malaysia for local transactions, and it plans a launch early next year, its senior vice president S.Y. Lau said in an interview. The move pits the Shenzhen-based Tencent against its rival Alibaba Group as they scramble for new growth opportunities outside China. Tencent this week became the first Asian firm to enter the club of companies worth more than $500 billion, and on Tuesday it surpassed Facebook in market value. Read more @ http://www.businessinsider.com/chinese- ... ue-2017-11