Trading in 12 off-exchange Chinese securities to be restricted
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
U S Considers Adding Alibaba, Tencent to China Stock Ban — 3rd Update
morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Updated Jan. 6, 2021 7:38 pm ET
U.S. officials are considering prohibiting Americans from investing in Alibaba Group Holding Ltd. and Tencent Holdings Ltd., a potential escalation of the outgoing Trump administration’s efforts to unwind U.S. investors’ holdings in major Chinese companies.
State and Defense Department officials in recent weeks have discussed expanding a blacklist of companies prohibited to U.S. investments over alleged ties to China’s military and security services, according to people familiar with the matter. The U.S. government announced its original blacklist in November with 31 companies.
Tencent and Alibaba are China’s two most valuable publicly listed companies, with a combined market capitalization of over $1.3 trillion and scores of American mutual funds and other investors holding their shares. Alibaba’s New York-listed American depositary receipts fell more than 5% on Wednesday, while Tencent ADRs tumbled by about 4% in the U.S. over-the-counte