Tencent Shares Tumble After Approaching $1 Trillion Valuation Bloomberg 1/26/2021 Sofia Horta e Costa (Bloomberg) -- Tencent Holdings Ltd. slumped after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time. The Chinese Internet behemoth lost 6.3% in Hong Kong on Tuesday, putting its market capitalization below $890 billion. Traders took profit after Monday’s 11% rally, which was Tencent’s biggest in almost a decade. Adding to the caution were comments by an adviser to China’s central bank at a conference, reported by local media, indicating that excessive liquidity was creating asset bubbles. Thousands of bullish Tencent options lost almost all their value, after some surged as much as 118,300% on Monday. The frenzy in derivatives trading pushed the cost of one-month Tencent options to the highest since March 2014 relative to those tracking the Hong Kong benchmark, according to data compiled by Bloomberg.