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- President Joe Biden has reversed a series of bans on the new downloads of ByteDance's TikTok, Tencent Holdings Ltd's TCEHY WeChat, and initiated a new Commerce Department review of the alleged security concerns regarding the apps, Reuters reports.
- The bans were also imposed on eight other communications and financial technology software applications. Former President Donald Trump had initiated the ban orders.
- A separate U.S. national security review of TikTok remains active.
- Price action: TCEHY shares traded lower by 0.18% at $77.45 on the last check Wednesday.
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