Asia's most valuable firm Tencent loses $23 bn in one day
Asia's most valuable firm Tencent Holdings lost around $23 billion in market capitalisation on Friday as the company's shares fell about 4.42%. This comes after its largest shareholder, Naspers, lowered its stake from 33.2% to 31.2% for the first time in 17 years. With a current market capitalisation of $508 billion, Tencent is world's largest social media company.