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Chinese Internet giant Tencent today became the first Asian company ever to be valued above $500 billion, after its shares rose 4.1% in trading on the Hong Kong Stock Exchange.

Rivals: Facebook and Amazon both crossed the $500 billion threshold this past summer, with the former opening trading today with a market cap of $520 billion. In terms of tech, they all still trail market cap leaders Apple ($872 billion), Alphabet ($712 billion) and Microsoft ($636 billion).

Expand chart
Data: Money.net; Chart: Andrew Witherspoon / Axios

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China's Alibaba Group currently has a market cap north of $480 billion.

Go deeper

John Hinckley, who shot Reagan, wins unconditional release

John Hinckley Jr. sitting on the back seat of a car in 1981. Photo: Bettmann / Getty Images

A federal judge on Monday approved the unconditional release of John Hinckley Jr., who tried to assassinate former President Reagan in 1981.

State of play: U.S. District Court Judge Paul L. Friedman in Washington ruled that Hinckley can be freed from all court supervision in 2022 if he remains mentally stable and continues to follow rules that were imposed on him after he was released from a Washington mental health facility in 2016 to live in Virginia, AP reports.

Rep. Karen Bass launches run for Los Angeles mayor

Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Karen Bass (D-Calif.) on Monday launched her bid for mayor of Los Angeles.

Why it matters: Bass is a high-profile member of Congress. The former chair of the Congressional Black Caucus, she was considered as a potential running mate to President Joe Biden and was a lead negotiator in the recently-ended talks on police reform. Should Bass win the mayoral election, she would become the first female mayor in L.A. history.

Biden administration takes steps to "fortify" DACA

People attend a protest supporting DACA in New York, Aug. 17. Photo: Kena Betancur/AFP via Getty Images

The Biden administration on Monday took additional steps to save the Deferred Action for Childhood Arrivals program despite ongoing legal challenges to the program.

Driving the news: The Department of Homeland Security unveiled a proposed rule designed "to preserve and fortify" DACA, which offers protection from deportation for undocumented immigrants brought to the U.S. as children. The rule is set to formally publish on Tuesday and would give the public two months to submit comments in favor of or against the Obama-era policy.