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Tencent and Alibaba lose $330bn in market value since end of 2020

TSMC and CATL rise in East Asian market cap ranking shaken by China crackdown

The Chinese government's tightening of regulations on the high-tech industry is causing a significant shift in the market. (Nikkei montage/AP)

TOKYO -- The combined market cap of the top two Chinese tech companies has plunged $330 billion since the end of last year under regulatory pressure by Beijing, a Nikkei ranking of East Asian stocks shows.

In contrast, Taiwan's leading semiconductor maker and companies driving Chinese efforts to cut carbon dioxide emissions, such as producers of batteries for electric vehicles, have seen their value rise.

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