Tencent, CATL shares sink after addition to Pentagon's China military list

Gaming and social media giant closes 7% lower, while battery maker falls about 3%

20250107 CATL AND TENCENT

Chinese battery maker CATL and tech conglomerate Tencent are among a new batch of companies accused by the Pentagon of having links to the People's Liberation Army. © Reuters

ECHO WONG, Nikkei staff writer

HONG KONG -- The share prices of Chinese tech conglomerate Tencent Holdings and battery maker Contemporary Amperex Technology (CATL) fell sharply on Tuesday, after they were added to a Pentagon list of companies with alleged ties to China's military.

The Hong Kong-listed shares of Tencent closed 7.28% lower, while the Shenzhen-listed CATL finished the day down 2.84% after slipping more than 5% at the opening.

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