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Business trends

Tencent and China tech prove resilience amid regional stock shock

87% of major Asian companies lost market cap with Indian banks hit hardest

Out of Asia's 19 companies with a market cap exceeding $100 billion, Tencent was the only company that maintained year-end value in the first quarter.   © Reuters

SINGAPORE -- Investor concern over the deadly new coronavirus rattled Asian stock markets in the first quarter, forcing the region's biggest companies to shed 10% or more of market cap, including Toyota Motor, Samsung Electronics and Tata Consultancy Services.

But there were some winners, notably in China. Online service providers such as Tencent Holdings and producers of medical products saw demand skyrocket amid the pandemic.

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