Since the beginning of the year, Tencent has increased in value by 91 billion dollars
Investor optimism towards Tencent is increasing, and with it, the market value of the company is rising. Bloomberg calculated that since January 1, 2024, the capitalization of the Chinese giant has increased by 28% or $91 billion.
Dungeon & Fighter Mobile
According to Bloomberg, in percentage terms, Tencent has appreciated more than other major Asian gaming companies. For instance, Nintendo's market value has increased by just under 20% since the beginning of the year, and Nexon's by 15%. The market value of NetEase has hardly changed.
Market value change dynamics for Tencent (black), Nintendo (gray), Nexon (green), and NetEase (red) from January to June 2024
Currently, Tencent's shares are the second most expensive among all companies in Asia. Only the shares of chip manufacturer TSMC are more expensive.
One of the main reasons for investors' interest in Tencent is that the company's gaming division's performance has started growing again, partly due to the recent success of the Chinese version of Dungeon & Fighter Mobile. Notably, during its debut month, the game generated over $270 million in China solely on the App Store. Additionally, Tencent's strengthening position in the advertising market has influenced the market situation.
According to Google Finance, at the time of writing this news, Tencent is valued at 3.49 trillion Hong Kong dollars ($447 billion USD).
