Samsung, Tencent vie to be Asia's most valuable
Expectations for robust earnings growth are pushing their share prices to record highs with both gaining by a third this year
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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.
Their surge - both have gained by a third this year - has made them the world's best performing large-cap tech stocks and highlights how these nimble Asian firms are thriving while rivals Apple Inc and Alibaba have struggled. "These companies can grow earnings despite weaker global growth," said Andrew Gillan, head of Asia ex-Japan equities at fund managing firm Henderson Global Investors, which is overweight on Asian technology firms. "The operating fundamentals of the Chinese Internet sector particularly have surprised positively in the most recent quarterly results."
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