Investor optimism towards Tencent is growing, and along with it, the company's market value is increasing. Bloomberg calculated that since January 1, 2024, the Chinese giant's market capitalization has risen by 28%, or $91 billion.
Dungeon & Fighter Mobile
According to Bloomberg, in percentage terms, Tencent has increased in value more than any other large Asian gaming companies. For instance, Nintendo's market value has increased by just under 20% since the beginning of the year, while Nexon's has risen by 15%. NetEase's market value has remained nearly unchanged.
Market value trends for Tencent (black), Nintendo (gray), Nexon (green), and NetEase (red) from January to June 2024
Tencent's shares are currently the second most expensive among all companies in Asia, surpassed only by chip manufacturer TSMC.
One of the main reasons for investor interest in Tencent is the growing performance of the company's gaming division, particularly following the recent success of the Chinese version of Dungeon & Fighter Mobile. Notably, in its debut month, the game earned over $270 million in China through the App Store alone. The strengthening of Tencent’s position in the advertising market has also influenced the stock market situation.
According to Google Finance data, at the time of writing, Tencent is valued at HKD 3.49 trillion (USD 447 billion).