Photo: Reuters/Aly Song

Chinese internet giant Tencent’s market capitalization exceeded US$300 billion for the first time on Tuesday, following eight-straight days of gains, reports Caixin.

With the gains, Tencent replaced US bank Wells Fargo as the 10th-most valuable company in the world.

The company has benefited in recent days from positive news and “buy” ratings from several investment banks ahead of the first quarter financial report expected to be released on May 7.

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