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A second stock connection with mainland China, which opened late last year has allowed even more money to flow onto the semi-autonomous city's exchange.
China's social media and video game giant Tencent overtook Facebook in market value on Tuesday as investors sent the company's shares soaring to the top five list of the world's biggest firms. Tencent's shares, traded in Hong Kong, have doubled in value this year as the tech company's earnings have repeatedly outmatched analysts' expectations.
A second stock connection with mainland China, which opened late last year has allowed even more money to flow onto the semi-autonomous city's exchange.
By Tuesday afternoon, Tencent's market capitalization had reached 4.15 trillion Hong Kong dollars ($531 billion), surpassing the US social network's $519 billion.
The market movement made China's Tencent one of the world's top five most valuable companies, although it is still far short of leader Apple which is currently valued at $873 billion.
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