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Alibaba becomes most valuable Asian company as market cap tops $500bn

Samsung and TSMC surged in 2019; Indian automakers and SE Asian airlines slumped

Alibaba's market value grew to $570 billion in 2019 through Dec. 20, ensuring that it will end the year as Asia's most valuable company.   © Reuters

SINGAPORE -- Asian tech companies' market caps have grown significantly this year as the tech cycle turned up and investors began pricing in economic recoveries, factors that moved the market capitalization of Chinese internet giant Alibaba Group Holding to well over $500 billion.

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