Tencent Holdings closed down 5.76% after Trump signed TikTok WeChat ban

Naija Tech News (NTN) on 07, and in content, Tencent Holdings closed down 5.76% after Trump signed TikTok WeChat ban, Tencent .

We Earlier reported today, August 7, Hong Kong stocks closed. In terms of technology stocks, Tencent Holdings fell 5.76%, Alibaba fell 3.35%, NetEase fell 1.93%, and Jingdong Group fell 3.23%.

US President Trump signed an executive order on the 6th, stating that the overseas version of TikTok and WeChat, the mobile app TikTok, poses a threat to U.S. national security, and will prohibit any U.S. individual or entity from conducting any transactions with TikTok, WeChat and their parent companies after 45 days .

In response to this, Chinese Foreign Ministry spokesperson Wang Wenbin responded on the 7th, saying that the United States will help its own self-interest over market principles and international rules and conduct political operations in return. The image damage and the international trust deficit will eventually suffer.

In response to Trump’s signing of the TikTok WeChat ban, a Tencent spokesperson said on Friday that Tencent is evaluating the executive order to gain a full understanding.

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