Hong Kong ¨C Tencent Holdings Ltd. tried to reassure investors that U.S. President Donald Trump¡¯s ban on its WeChat messaging service may apply only to its overseas operations, suggesting the impact on the world¡¯s largest gaming corporation should be modest.
The Chinese company¡¯s shares gained as much as 2 percent in Hong Kong. During a conference call after earnings, executives repeatedly emphasized the distinction between WeChat, which is used outside China, and Weixin, a similar service within the country. Trump¡¯s executive order specifically mentioned banning the former because of alleged risks to American national security.
¡°The executive order is focused on WeChat in the United States and not other businesses in the U.S.,¡± said Chief Financial Officer John Lo. ¡°We are in the process of seeking further clarification from bipartisan parties in the U.S.¡±
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