Tencent sees £120bn wiped from its value after US censure
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Tencent Holdings saw over $120 billion wiped from its value after being added to the US Department of Defense's list of Chinese military companies. This inclusion has significant implications for the company's stock, particularly its US-listed shares under the symbol TCEHY.
January 07, 2025 | 8:45 am
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Tencent's US-listed shares (TCEHY) are likely to face downward pressure after the company was added to the US Department of Defense's list of Chinese military companies, leading to a significant loss in market value.
The addition of Tencent to the US Department of Defense's list of Chinese military companies is a significant regulatory action that has already resulted in a substantial loss in market value. This action is likely to deter US investors and could lead to further selling pressure on TCEHY shares.
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