Tencent and Alibaba vanish from world's top 10 by market cap

Chinese companies bleed value under pressure from both Beijing and Washington

Alibaba Group Holding founder Jack Ma, then executive chairman, celebrates at the New York Stock Exchange on Sept. 19, 2014, the day that the company held its initial public offering and began trading there. © Getty Images

MANAMI OGAWA, Nikkei staff writer

December 21, 2021 10:30 JST

Updated on December 21, 2021 16:33 JST

TOKYO -- Tencent Holdings and Alibaba Group Holding have dropped out of the global top 10 companies in market capitalization, new data shows, leaving no Chinese members on the list.

Tencent ranked seventh at the end of 2020, according to the QUICK-FactSet database, with Alibaba at No. 9. Tencent peaked at sixth this past February before its market cap tumbled 40% or so. It languished in 11th place as of Friday.