Tencent Gains $26 Billion After U.S. Reassurances on WeChat Ban

(Bloomberg) — Tencent Holdings Ltd. 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.The WeChat owner jumped as much as 4.2% in Hong Kong Monday after people familiar with matter said the Trump administration is privately seeking to reassure U.S. companies including Apple Inc. that they can still do business with Tencent’s WeChat messaging app in China. In recent days, senior administration officials have been reaching out to some companies, realizing that the impact of an all-out ban on …read more

Source:: Yahoo Finance

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