Tencent Holdings added to Friday’s sharp decline to start the week, helping lead weakness in technology shares after the move by the US to ban residents from doing business with the company’s WeChat app. The stock fell by 4.6 percent today, approaching Friday’s lowest level. Tencent lost US$35 billion of market value to end last week as investors weighed the vaguely worded order, which initially triggered fears that it applied to a number of the internet giant’s operations.

Source: The Standard August 10, 2020 03:22 UTC