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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