Traders Gird for More Market Swings After Trump’s WeChat Ban
- “There’s no saying how bad things could get:” Hao Hong
- MSCI Asia Pacific Index falls as much as 1.4% on Friday
This article is for subscribers only.
U.S. President Donald Trump’s move to ban WeChat and TikTok roiled Asian markets and hit some of the highest profile technology stocks in the region.
Shares of WeChat operator Tencent Holdings Ltd. plunged as much as 10% before paring some of the losses. Other tech names such as Alibaba Group Holding Ltd. and Taiwan Semiconductor Manufacturing Co. were among notable decliners in Asia on Friday. The MSCI Asia Pacific Index turned lower to fall as much as 1.4%, snapping a four-day rising streak.