Breaking news Tencent classified as a Chinese military company

The Department of Defense today classified Tencent as a "Chinese military company operating in the United States".

Tencent shares plummet after being blacklisted as a Chinese defense contractor by the Ministry of Defense.

Tencent is owned by dozens of state pension funds.

It's time for 100% divestment from China-based companies.

https://www.scmp.com/news/world/united-states-canada/article/3293654/us-adds-tencent-catl-list-chinese-firms-allegedly-helping-beijings-military

https://www.bbc.com/news/articles/c9q78wn9g8zo

https://www.bloomberg.com/news/articles/2025-01-06/us-adds-tencent-to-chinese-military-blacklist-shares-decline

Epi@Epi

1Mon

The "crash" is very limited. I think the informed circles already knew that. Hence the poor performance of Chinese equities.
The backlash from China will be interesting. It may hit Tesla.

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BamBamInvest@BamBamInvest

@Epi I agree, I put it on my watchlist straight away. If it wasn't a Chinese company, I would probably have invested immediately.

Breaking news: Tencent classified as a Chinese military company