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

REUTERS/Kim Kyung-Hoon

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.

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