Alibaba, Tencent Shares Drop as U.S. Weighs Investment Ban
- The giant Chinese companies are widely held by U.S. investors
- Trump administration has ramped up such measures in final days
The discussions involving Alibaba and Tencent focus in part on how such a move might affect capital markets.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Alibaba Group Holding Ltd. and Tencent Holdings Ltd. led a technology stocks selloff as the Trump administration considers barring investments in China’s two most valuable companies.
Alibaba fell 3.9% and Tencent dropped 4.7% in Hong Kong trading on Thursday, tracking losses in their New York-listed securities. The State Department, Department of Defense and Treasury Department are among authorities involved in the deliberations, according to people with knowledge of the talks. The discussions focus in part on how such a move might affect capital markets, the Wall Street Journal reported earlier Wednesday.