Tencent stock plunged on Friday after US President Donald Trump moved to ban WeChat, a social media app owned by the Chinese tech giant.
Hong Kong Tencent stock plunged on Friday after US President Donald Trump moved to ban WeChat, a social media app owned by the Chinese tech giant.
Shares in Tencent plummeted as much as 10% in Hong Kong, before paring back some of those losses — though the stock was still down nearly 6% by early afternoon. Hong Kong's benchmark Hang Seng Index fell 2.3%. The fall came after Trump issued executive orders that would ban WeChat and TikTok, the short-form video app owned by Beijing-based ByteDance, from operating in the United States in 45 days if they are not sold by their parent companies.
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Shares of Tencent plunge almost 7% after Trump issues executive order on TikTok and WeChatShares of Hong Kong-listed Tencent plunged nearly 7% by Friday afternoon after U.S. President Donald Trump issued executive orders targeting Chinese apps WeChat and TikTok.
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Trump issues executive orders banning U.S. transactions with WeChat and TikTok in 45 daysThe ban will start in 45 days.
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Tencent Stock Drops After Firm Is Targeted by Trump Executive OrderShares of Tencent Holdings plunged as much as 10%, hours after President Trump signed an executive order that would bar U.S. entities from transacting with the Chinese internet giant.
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Trump bans dealings with Chinese owners of TikTok, WeChatNEW YORK (AP) — President Donald Trump on Thursday ordered an unspecified ban on “transactions” with the Chinese owners of the consumer apps TikTok and WeChat. The twin executive orders —...
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Trump bans ‘transactions’ with Chinese owners of TikTok, WeChatPresident Donald Trump on Thursday ordered an unspecified ban on “transactions” with the Chinese owners of the consumer apps TikTok and WeChat.
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Trump issues executive orders against TikTok and WeChat, citing national security concernsTrump issues executive orders against Chinese firms, citing national security concerns
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