Tencent Holdings jumped the most in two weeks after White House officials are said to have reassured American businesses that a ban on its WeChat app won’t be as broad as feared.
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Oracle’s bid for the US operations of TikTok received the backing of US President Donald Trump, bolstering the software maker’s attempt to derail takeover talks led by rival Microsoft.
China has denounced the US’s latest moves to curb Huawei’s access to commercially available chips, the latest blow in an increasingly tense relationship between the world’s two biggest economies.
A new US edict limiting Huawei’s access to technology is more than just an incremental measure against the Chinese giant. It threatens to kill the company, which invites retaliation from Beijing.
Ramped-up US restrictions on Huawei are likely to cut off the Chinese smartphone maker’s access to even off-the-shelf chips and disrupt the global tech supply chain once again, executives and experts cautioned.
The Trump administration announced on Monday it will further tighten restrictions on Huawei Technologies, aimed at cracking down on its access to commercially available chips.
US President Donald Trump now has a verified account on TikTok competitor Triller, another sign of the White House’s disfavour toward the ByteDance-owned video-sharing app.
Donald Trump’s WeChat ban targets a celebrated Chinese innovation at the heart of the world’s largest mobile gaming and social media empire, threatening one of the more eye-catching stock rallies of 2020.
Tencent added to Friday’s sharp decline to start the week, helping lead weakness in technology shares after the US’s move to ban residents from doing business with the company’s WeChat app.
Twitter has expressed an interest in buying video platform TikTok’s US operations, it has been reported. The video-sharing app is already the subject of takeover discussions with Microsoft.