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5 Stocks To Watch For January 6, 2021

Trump targets Ant s Alipay, WeChat Pay and others in latest round of bans

Trump Targets Ant s Alipay, WeChat Pay in Latest App Bans

Trump Targets Ant’s Alipay, WeChat Pay in Latest App Bans Bloomberg 1/6/2021 Justin Sink, Jennifer Jacobs and Zheping Huang © Bloomberg A pedestrian walks past an Alipay sign outside an Ant Group Co. office building in Shanghai, China. (Bloomberg) President Donald Trump signed an order banning U.S. transactions with eight Chinese apps including Ant Group Co.’s Alipay and Tencent Holdings Ltd.’s digital wallets, riling Beijing days before he’s slated to leave office. The order is the outgoing administration’s latest bid to use national security powers against China’s largest companies, but it will be up to President-elect Joe Biden to decide whether to enforce the policy. It deals another blow to Ant co-founder Jack Ma, who hasn’t been seen in public since Chinese regulators halted Ant’s $35 billion IPO and launched an antitrust probe into Alibaba Group Holding Ltd.

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