The buying frenzy has also boosted Tencent’s market value by about $232 billion this year, the most worldwide, according to data compiled by Bloomberg. Tesla Inc. is the second-largest gainer, up $134 billion.
HONG KONG: Hong Kong’s equity traders can’t get enough of Tencent Holdings Ltd., the $930 billion giant that’s on pace for its biggest ever monthly gain.
They’re paying up for bullish derivatives tracking the Chinese internet firm, buying thousands of January call options that expire Thursday.
The price of one Tencent contract -- which bets the stock will rise past HK$800 by expiry -- surged as much as 90,300% on Monday.
Traders also rushed to offload their bearish puts, with one of the most-traded contracts losing some 84% in value.
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