(Bloomberg) -- The competition for the crown of the biggest Asian company is getting tighter, with Beijing’s regulatory crackdown and a global semiconductor shortage shaking up the established order.
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Chinese technology titan Tencent Holdings Ltd. is finding it harder to hold Asia’s top ranking for market capitalization amid tougher rules that sparked a 40% slide from its February peak.
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Tencent’s lead over Taiwan Semiconductor Manufacturing Co. has been cut to $20 billion at a time when its rival is enjoying strong demand for its products which are essential to everything from iPhones to cars and fridges.
The stock was down 2.9% at 11:20 a.m. in Hong Kong while TSMC slipped 2.4% in Taipei.
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