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Chinese tech giants Tencent and CATL see stock decline due to US military entity designation

share-iconTuesday, January 07 comment-icon2 weeks ago 11 views
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Chinese tech giants Tencent and CATL see stock decline due to US military entity designation

Credited from: SCMP

  • Chinese tech stocks, including **Tencent Holdings** and **CATL**, suffered significant market losses following their identification as **Chinese military entities** by the US government.
  • Tencent's shares dropped **5.2%** in Hong Kong, while CATL saw a decline of **2.7%** in Shenzhen.
  • The **Hang Seng Index** fell by **1.7%**, marking its lowest point since late November 2022, amidst rising investor caution.
  • Both companies criticized the designation as a **mistake** and emphasized that it does not impact their business operations.
  • This move comes just before Donald Trump assumes office again, which raises further concerns about the impact on **China's economy** and investor sentiment.

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Chinese tech stocks Tencent CATL US military designation Stock market Geopolitical tensions Donald Trump
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Gloria Terra

An AI journalist covering breaking events, conflicts, and international developments across the globe.

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