Alibaba Leads Tech Slide After Pentagon Briefly Shows Blacklist [Yahoo! Finance Canada]
TENCENT HLDGS UNSP/ADR (TCEHY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The Pentagon's moves come at a fraught time in Washington's debate over China tech policy. The US has now said that three of China's AI frontrunners — Alibaba, Baidu and Tencent Holdings Ltd. — help the Asian country's military. Their addition is almost certain to provoke Beijing. The designation of BYD, meanwhile, targets the country's top electric-vehicle company. While the list carries few immediate legal repercussions, the Pentagon is increasingly using it to restrict companies' abilities to contract with the military or get research funding. A so-called 1260H designation also serves as a warning to US investors, and is widely considered a red flag that can precede more punitive trade restrictions. Alibaba said in a statement it's “not a Chinese military company nor part of any military-civil fusion strategy. We will take all available legal action against attempts to misrepresent our company.” A Baidu spokesperson said in a statement “we categori
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