Tencent shares decline over 7% as US blacklists company

Tencent shares decline over 7% as US blacklists company

US has blacklisted Tencent Holdings and Contemporary Amperex Technology (CATL) for alleged links to the Chinese military. With this, Tencent's stock slid over 7% in Hong Kong, notching its biggest intraday drop since October. CATL's shares fell over 5%, also their biggest fall in about three months. Both companies protested their inclusion, saying they've no ties with the Chinese military.