The U.S.-listed shares of Hong Kong-based Tencent Holdings Ltd. slumped 1.4% in premarket trade Wednesday, knocking the gaming and messaging giant’s market capitalization back below Facebook Inc.’s market cap after climbing above it for the first time the previous session. At Tencent’s current price of $55.10, the market cap would be $523.39 billion, while Facebook shares inched up 0.1% to $181.97 ahead of the open, implying a market cap of $528.77 billion. Tencent is still valued above China-based e-commerce giant Alibaba Group Holding Ltd., as Alibaba shares rose 0.5% in premarket trade to $191.83, for a market cap of $490.30 billion. Tencent’s stock had rocketed 128.5% year to date through Tuesday, while Facebook shares had rallied 58.1%, Alibaba’s stock had climbed 117.4% and the S&P 500 had gained 16.1%.
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