[HONG KONG] Hong Kong stocks finished sharply lower Friday, with market heavyweight Tencent battered by President Donald Trump's decision to ban Americans from doing business with the platform, clouding its outlook.
The benchmark Shanghai Composite Index sank 0.96 per cent, or 32.43 points, to 3,354.04, while the Shenzhen Composite Index on China's second exchange dropped 1.38 per cent, or 31.86 points to 2,272.66.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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Tencent loses US$46 billion as WeChat ban rocks China, Hong Kong stocks and yuanSHANGHAI (BLOOMBERG, REUTERS) - The Trump administration's move to ban US residents from doing business with Tencent Holdings' WeChat app rippled through Chinese markets, on Friday (Aug 7) erasing US$46 billion (S$63 billion) from the Internet giant's market value and sending the yuan to its biggest slump in two weeks.. Read more at straitstimes.com.
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