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Chinese Stocks Gain Steam As Tencent's WeChat Agrees To Allow External Links

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Chinese Stocks Gain Steam As Tencent's WeChat Agrees To Allow External Links
  • Tencent Holdings Ltd's (OTC: TCEHY) WeChat messaging app will allow users to access external links from Friday, Reuters reports, and also confirmed by a tweet.
  • The update follows China's mandate to companies like Alibaba Group Holding Ltd (NYSE: BABA) and Tencent to stop blocking each other's links.
  • The companies previously planned to open up their services to one another to counter the crackdown.
  • Chinese tech stocks, including BABA, Baidu Inc (NASDAQ: BIDU), JD.com Inc (NASDAQ: JD), Bilibili Inc (NASDAQ: BILI), DiDi Global Inc (NYSE: DIDI), are trading higher in the premarket today after a bloodbath due to China's regulatory extended crackdown.
  • Price Action: BABA shares traded higher by 1.11% at $158 in the premarket session on the last check Friday.
 

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