Report: The US government is considering banning Americans from investments by Alibaba and Tencent
The American government is considering a plan that would restrict Americans from buying shares of Alibaba Group Holding Ltd. Alibaba,
And Tencent Holdings Ltd. TCEHY,
According to the Wall Street Journal. The government is increasingly suppressing investments in companies that claim to have ties to the Chinese military. The Wall Street Journal report, which cites multiple anonymous sources, said the US government is debating whether restrictions on investments in Alibaba and Tencent will have a far-reaching impact on markets, and it remains uncertain whether the government will go through with such a ban. . . Late Tuesday, the New York Stock Exchange reversed its stance on whether to write off three Chinese telecoms companies – China Telecom Corp. Ltd. CHA,
China Mobile Ltd. CHL,
And China Unicom CHU,
From its exchanges as it seeks to comply with an executive order from President Trump aimed at preventing US investors from buying shares of companies with alleged links to the Chinese military. The New York Stock Exchange said last week it would delete the names, before reversing course earlier this week, and then saying later that it will return to its original plans to write off shares. Alibaba shares listed in the US were down nearly 5% in trading Wednesday afternoon, while Tencent shares were down more than 3%.
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