Shares of Tencent plunged as much as 10%, hours after Trump signed an order that would bar U.S. entities from transacting with the internet giant
Shares of Tencent Holdings Ltd. plunged as much as 10% on Friday, hours after President Trump signed an executive order that would bar U.S. entities from transacting with the Chinese internet giant and its popular social-media app, WeChat.
Tencent’s shares, which are listed in Hong Kong, started tumbling when the market opened and were down 6.8% by noon after paring earlier losses. The benchmark Hang Seng Index, which the stock is a large constituent of, was down 2.3%.
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