- July 28, 2021
- Posted by: Stratford Team
- Category: Business
Former State Department senior adviser Christian Whiton breaks down the decision on ‘FOX Business Tonight’
Chinese tech stocks listed in the U.S. were pummeled for a third day Tuesday after popular messaging app WeChat temporarily blocked new users from registering.
Tencent Holding’s WeChat, which is the only app to have over 1 billion users in China, temporarily suspended new user registration on the mainland until its security technology is updated to conform with “relevant laws and regulations,” according to Reuters, citing a company statement.
Ticker Security Last Change Change %TCEHY TENCENT HOLDINGS LTD. 58.9 -1.28 -2.13%
WeChat expects to be in compliance in early August.
Tencent Holdings ADR fell by as much as 7.32% in U.S. trading on Tuesday, extending their three-day decline to 19.44%.
Other U.S.-listed Chinese companies, including Alibaba Group, JD.com and Baidu, have lost between 15% and 20% during the selloff.
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