Business & Investment

US is considering adding Alibaba, Tencent to China’s stock ban-Source by Reuters

© Reuters.Alibaba Group logo can be seen in Beijing office

(Reuters)-The Trump administration is considering adding Alibaba (NYSE :) Group Holding Ltd and Tencent Holdings (OTC :) Ltd have been blacklisted by Chinese companies allegedly owned or controlled by the Chinese military, two people familiar with the matter told Reuters.

The news was first reported by The Wall Street Journal, saying the plan is still under discussion and may not pass as government agencies are discussing market implications. (Https://on.wsj.com/3nngMYB)

Alibaba and Tencent shares both fell about 3% in the morning trading on the Hong Kong Stock Exchange. Alibaba’s US-listed stock closed just over 5% on Wednesday news, but was almost flat in after-hours trading.

On Tuesday, US President Donald Trump signed an executive order banning transactions with eight Chinese software applications, including Ant Group’s Alipay mobile payments app, with Beijing two weeks before President Joe Biden took office. I increased my tension.

Alibaba and Tencent did not immediately respond to Reuters’ request for comment.

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US is considering adding Alibaba, Tencent to China’s stock ban-Source by Reuters

https://www.investing.com/news/stock-market-news/us-considering-adding-alibaba-tencent-to-china-stock-ban-sources-2381430 US is considering adding Alibaba, Tencent to China’s stock ban-Source by Reuters

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