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TCEHY - Tencent


saltybit

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https://www.cnbc.com/2020/08/07/tencent-chinese-tech-stocks-fall-after-trump-executive-order-on-tiktok-wechat.html

 

Shares of Tencent plunge almost 7% after Trump issues executive order on TikTok and WeChat

PUBLISHED FRI, AUG 7 202012:09 AM EDTUPDATED AN HOUR AGO

Eustance Huang

@EUSTANCEHUANG

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Shares of Chinese tech firms listed in Hong Kong fell by Friday afternoon after U.S. President Donald Trump issued executive orders targeted at major tech firms Tencent and ByteDance.

The Hang Seng Tech index, which tracks the 30 largest technology companies listed in Hong Kong that pass the screening criteria, also fell 4.69%. In mainland China, the Nasdaq-style Chinext Composite slipped 2.449

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Apparently the ban affects WeChat only.

 

Los Angeles Times reporter Sam Dean affirmed from the White House that this does not affect other facets of Tencent's ownerships in American companies such as with its video game companies

 

It seems that it will not affect Tencent's gaming business. Assuming China does not retaliate/etc.

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