Shares of Alibaba Group Holding Ltd. rallied 2.3% in morning trade into record territory Monday, but the China-based ecommerce giant was beaten to the $500 billion value mark by Hong Kong-based videogame and WeChat operator Tencent Holdings Ltd. . With about 2.56 billion shares outstanding, and with a stock price of $189.44, which is above Nov. 7 record close of $188.51, Alibaba has a market capitalization $484.19 billion. Tencent’s stock rose had run up 4.1% to a record 420.00 Hong Kong dollars, in the aftermath of last week’s third-quarter results. Based on 9.50 billion shares outstanding, and an currency exchange rate of HKD7.8125 per USD, Tencent has a market cap of $510.66 billion. In comparison, five S&P 500 components have market caps above $500 billion: Apple Inc. at $872.42 billion, Google parent Alphabet Inc. at $715.24 billion, Microsoft Corp. at $635.87 billion, Amazon.com Inc. at $543.19 billion and Facebook Inc. at $520.35 billion.
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