The Chinese company Tencent has returned to the top 10 companies in the world by market capitalization.

(Reuters)

[Financial Channel/Comprehensive Report] Chinese technology giant Tencent (Tencent) has rebounded by more than 80% since the end of October. The position of the top 10 companies in the world by market capitalization.

"Bloomberg" reported that the outside world interpreted that Tencent's return to the top 10 companies in the world by market value reflects the market's optimism that China's economic growth will return to the right track, as well as the Fed's sharp tightening of monetary policy, which made the US market in the past. fell within 1 year.

The S&P 500 Index has fallen by about 20% from its record high set a year ago, and both Tesla and Meta have fallen out of the top 10 companies in the world by market capitalization.

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The reopening of China's economy, coupled with the easing of lockdowns and softening of regulations on private companies, is restoring investor confidence.

For example, Chinese authorities recently approved Ant Group’s US$1.5 billion capital increase, which is seen by investors as a sign of a more relaxed regulatory environment in China, and a series of bullish policies for China’s real estate industry have also fueled bullish sentiment.

As of the close of Hong Kong stocks on Wednesday, Tencent's market value was about 442 billion U.S. dollars, but this is less than half of the high of 949 billion U.S. dollars in January 2021.

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