News > Tencent gains $26 billion after US reassures on WeChat ban

Tencent gains $26 billion after US reassures on WeChat ban

Indian Express | 24/08/2020 02:06 PM | Click to read full article

The WeChat owner jumped as much as 4.2% in Hong Kong Monday after sources 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 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 the popular app could be devastating for U.S. technology, retail, gaming, telecommunications, and other industries.