Alibaba, Tencent Said to Be Considered by Trump Administration for Addition to China Stock Ban Blacklist

[ad_1] The Trump administration is contemplating including Alibaba Group and Tencent to a blacklist of Chinese corporations which might be allegedly owned or managed by the Chinese army, two individuals aware of the matter advised Reuters. The information was first reported by the Wall Street Journal, that stated the plan was nonetheless below deliberation and should not undergo as companies debate its influence on markets. Alibaba and Tencent shares have been each down roughly three p.c in morning commerce on the Hong Kong Stock Exchange. Alibaba's US-listed shares closed down simply over 5 p.c on the information on Wednesday however have been roughly flat in after-hours buying and selling. Alibaba and Tencent didn't instantly reply to Reuters requests for remark. On Tuesday, US President Donald Trump signed an govt order banning transactions with eight Chinese software program purposes, together with Ant Group's Alipay cellular fee app, escalating tensions with Beijing two we…

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