Five Chinese Firms Dominate Friday’s Top 10 Gainers

3. Tencent Music Entertainment Group (NYSE:TME)

Tencent saw its share prices on Friday surge by 12.08 percent to close at $14.38 apiece as investors cheered news of the company’s inclusion to the Hang Seng Tech Index on the Hong Kong Stock Exchange.

While its inclusion in Hang Seng Tech does not directly affect its shares on the US stock market, investors took the inclusion positively over hopes of the company’s increased visibility and investor interest. Being included in a stock market index means that a company has met certain market and financial stability criteria.

TME, one of the leading music and audio streaming services in China, traded in line with its Chinese counterparts listed on the US market.