Shares of Tencent Holdings dropped nearly 8% in Hong Kong after being added to the U.S. Department of Defense's list of Chinese military companies. Tencent’s U.S. depository receipts mirrored the decline, falling 8%. The designation restricts U.S. procurement from listed entities starting in 2026, but Tencent and CATL have called the inclusion a mistake, denying military ties. Analysts suggest Tencent could secure removal from the list, citing its focus on social networking and gaming.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Shares of Tencent Holdings dropped nearly 8% in Hong Kong after being added to the U.S.
00:06Department of Defense list of Chinese military companies.
00:10Tencent's U.S. depository receipts mirrored the decline, falling 8%.
00:14The designation restricts U.S. procurement from listed entities starting in 2026,
00:19but Tencent and CATL have called the inclusion a mistake, denying military ties.
00:24Analysts suggest Tencent could secure removal from the list,
00:27citing its focus on social networking and gaming.
00:30For all things money, visit Benzinga.com.