Stock investor Zhu Haifeng halved his once-cherished holdings in Chinese tech giants Tencent and Alibaba after the United States announced on Friday sanctions against some Chinese firms in the latest escalation between the world’s two top economies. The move followed U.S. President Donald Trump’s announcement of a sweeping ban on U.S. transactions with Tencent Holdings , the Chinese owner of messaging app WeChat, and Bytedance, which owns the video-sharing app TikTok, citing national security threats. Tencent now only represents 10% of his portfolio, having accounted for 40% at the peak of his purchases in the company which began …read more
Source:: Yahoo Finance
