US President Donald Trump signed an executive order prohibiting the use of Chinese payment platforms such as Alibaba Group (HKG:9988) affiliate Alipay and Tencent Holdings' (HKG:0700) WeChat Pay in the US, citing threats to national security.
"By accessing personal electronic devices such as smartphones, tablets, and computers, Chinese connected software applications can access and capture vast swaths of information from users, including sensitive personally identifiable information and private information," Trump said in the EO released late Tuesday.
The order will take effect after 45 days from the signing and is the latest in the Trump administration's sanctions against Chinese companies. RTRS
NYSE is reconsidering its decision to halt the delisting of three major Chinese telecommunications firms after Mnuchin told the Big Board he opposed its shock announcement to grant the companies a reprieve. CNBC