Photo: ReutersSingapore: Tencent Holdings Ltd and Samsung Electronics Co. Ltd are racing to be crowned Asia’s most valuable company as expectations for robust earnings growth push their share prices to record highs. Samsung and Tencent have been more volatile than the Asia tech sector and the broader market this year. Tencent is valued at $249 billion, only 4% smaller than the most valuable Asian firm, China Mobile, at $259 billion. Tencent is now the world’s 12th-biggest company by market value and Samsung the 17th-largest, Thomson Reuters data shows. HSBC expects further earnings growth, driven by new income streams such as advertising, premium content, cloud services and finance.

Source: Mint August 24, 2016 06:11 UTC