Hong Kong's stock fortunes are tied to Tencent like never before

HONG KONG (May 23): Tencent Holdings Ltd. has become the undisputed ruler of Hong Kong stocks.

China’s largest Internet company has surged 45% this year, adding more than US$100 billion ($168.6 billion) in value to its shares and pushing the city’s benchmark equity gauge ahead of almost all major global peers. While some technical indicators signal a pullback for the stock is overdue, analysts are bullish on its outlook after the WeChat operator posted record results.

Below are four charts showing just how influential Tencent has become to the world’s fourth-largest stock market.

---

Related Stories

• Hong Kong tower seized from tycoon ends up sold to a university
• Hong Kong a ‘global leader’ in financial crime, US lawmakers say
• New World Development to be removed from Hang Seng Index

---