Samsung, Tencent surge in race to become Asia's most valuable firm

SINGAPORE (Aug 24): 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.

---

Related Stories

• UBS-Credit Suisse integration opens up new tech for bigger plans
• Hong Kong's first de-spac listing still leaves sector in limbo
• SGX launches depository receipts for five Hong Kong stocks, including Alibaba, BYD

---