Tencent Shares Fall Further as Worries About U.S. Action Persist
(Bloomberg) — Tencent Holdings Ltd. added to Fridays sharp decline to start the week, helping lead weakness in technology shares after the U.S. move to ban residents from doing business with the companys WeChat app.
The stock fell as much as 4.6% Monday morning, approaching Fridays lowest level. Tencent lost $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 giants operations.
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