ByteDance is suing Tencent Holdings over alleged monopolies in its WeChat and QQ platforms, escalating a feud between the leading Chinese social media giants.
US President Donald Trump has signed an order banning US transactions with eight digital Chinese payment platforms including Ant Group’s Alipay in 45 days, when he’ll no longer be in office.
Tencent joined much of China’s Internet sector in a $290-billion selloff on Wednesday after Beijing signalled its strongest intentions yet to rein in Big Tech. Yet it’s in some ways better shielded than its peers.
The Trump administration lost a bid to enforce its prohibitions against the Chinese-owned “super app” WeChat in the US after appealing a judge’s ruling that the ban probably violates the free-speech rights of its users.
Caught off guard by Tencent’s record-breaking rally earlier this year, Hong Kong’s stock investors are getting well prepared for the next one.
China said at a World Trade Organisation meeting that restrictions by the US on Chinese mobile applications TikTok and WeChat are in violation of the body’s rules, a trade official said.
US President Donald Trump asked a San Francisco judge to stay an injunction blocking a ban on Tencent’s WeChat, arguing the Chinese-owned messaging app jeopardises national security.
A US judge on Sunday blocked the Trump administration from requiring Apple and Google to remove Chinese-owned messaging app WeChat for downloads.
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.