Chinese Internet giant Tencent bears a significant loss in market value

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The capitalization of the Chinese Internet company Tencent has decreased by 38% since January 2018, when the value of its shares jumped 100-fold after the initial public offering of shares in Hong Kong in 2004. This is the most significant loss of market value among all global companies in the current year. Institutional and individual investors, for whom Tencent was a favorite among technology companies, began to fear that the prices of its shares were greatly inflated. As reported, in March, the South African holding Naspers sold its stake in Tencent worth about 11 billion dollars. The company's profit in the first quarter fell for the first time for at least 10 years. The price of Tencent shares on Tuesday fell by 1.4%.

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