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Technology

Alibaba and Tencent climb ranks of top Asian earners during pandemic

Stay-at-home demand propels e-commerce and chipmakers

Alibaba, Tencent and Taiwan Semiconductor Manufacturing Co. each joined the ranks of Asia's top 10 companies by quarterly net profit. (Nikkei montage/Photos by Reuters)

TOKYO -- Major Asian tech companies have thrived in recent months despite the coronavirus pandemic, as stay-at-home demand reshuffles the ranks of the region's top earners in favor of companies such as e-tailers and chipmakers.

Chinese companies occupy seven of the top 10 spots in a recent Nikkei ranking, with Alibaba Group Holding and others placing significantly higher than last year. Fellow e-tailer JD.com was among those to ascend past hundreds or even thousands of businesses on the list.

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