Tencent shares slide more than 4% after Trump order to ban WeChat-related U.S. transactions

Chinese tech giant Tencent’s (0700.HK) shares fell more than 4% on Friday morning following U.S. President Donald Trump’s orders to ban WeChat-related U.S. transactions. The orders come as the Trump administration said this week it was stepping up efforts to purge “untrusted” Chinese apps from U.S. digital networks and called the Chinese-owned short-video app TikTok and messenger app WeChat “significant threats”.

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