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Tencent’s battle with TSMC for biggest Asian stock gets fiercer

Competition for the crown of the biggest Asian company is getting tighter.
Image: Qilai Shen/Bloomberg

The competition for the crown of the biggest Asian company is getting tighter, with Beijing’s regulatory crackdown and a global semiconductor shortage shaking up the established order.

Chinese technology titan Tencent Holdings is finding it harder to hold Asia’s top ranking for market capitalisation amid tougher rules that sparked a 40% slide from its February peak.

Tencent’s lead over Taiwan Semiconductor Manufacturing Co. has been cut to $20 billion at a time when its rival is enjoying strong demand for its products which are essential to everything from iPhones to cars and fridges.

© 2021 Bloomberg

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