World's biggest tech companies are no longer just American
China's Alibaba and Tencent, which dominate their home markets, have become global investor darlings
Hong Kong
THE technology world's US$400 billion-and-up club - long a group of exclusively American names such as Apple, Google, Facebook, Microsoft and Amazon - needs to make room for two Chinese members.
The Alibaba Group and Tencent Holdings, Chinese companies that dominate their home market, have rocketed this year to become global investor darlings. They are now among the world's most highly valued public companies, each of them twice as valuable as tech stalwarts such as Intel, Cisco and IBM.
While US technology giants dominate people's online lives in Western countries, Tencent and Alibaba have soared by essentially carving up China, the world's si…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
India’s Infosys misses fourth-quarter revenue estimates
UBS shuts some China private funds, will lay off staff: sources
China’s top lenders face 1.6 trillion yuan loss-absorbing capital shortfall by 2025, Fitch estimates
US dollar rally stalls after rare FX warning from finance chiefs
ROE target of 14% is ‘decent’ for UOB: CEO Wee Ee Cheong
Swiss watch exports plunge as China and Hong Kong demand dries up