Other Chinese companies added to the list included battery maker CATL, which is part of the supply chain for automakers like Ford and Tesla.
Shares of Tencent Holdings sank 7% in Hong Kong trading Tuesday after the WeChat parent was added by the U.S. Department of Defense to its list of "Chinese military companies."
Hong Kong stocks rebounded from a six-week low as Tencent Holdings snapped a six-day slump and amid speculation China will step up policy measures to revive growth to end persistent deflation in the economy.
Tencent Holdings Ltd. repurchased the most shares in nearly two decades after a selloff sparked by the tech firm’s addition to a US blacklist for alleged links to the Chinese military.
The U.S. Defense Department has added major Chinese technology companies including gaming and technology company Tencent, artificial intelligence firm SenseTime and the world’s biggest battery maker C
Tencent executed its largest share buyback since 2006, acquiring HK$1.5 billion worth of shares to counter the fallout from a US blacklist.
The Department of Defense added Tencent, CATL and dozens of firms as ‘Chinese military companies’ in register, stoking steep losses.
WITH Donald Trump about to start a second term in the White House, investors around the globe are bracing for big changes in trade policies. One sector they are zeroing in on is China tech, and the sentiment is: wait and see.
The Department of Defense accused Tencent and EV battery giant CATL of having ties to China's military. Tencent calls the decision "clearly a mistake."
Tencent co-founder Charles Chen Yidan calls on educators to explore how AI can improve not only learning but also their own skills.
The U.S. Defense Department has added major Chinese technology companies including gaming and technology company Tencent, artificial intelligence firm SenseTime and the world’s biggest battery maker C
The chaos of the TikTok ban is currently unfolding across the US with the app banned either temporarily or permanently depending on how all this plays out.