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Shares of Chinese tech heavyweight Tencent Holdings tumbled 5.3% in Hong Kong after the corporate was added to a list of “Chinese military companies” by the U.S. Department of Defense.
The transfer mirrors the virtually 8% fall in Tencent‘s U.S. depository receipts on Wall Street.
Other Chinese corporations added to the listing included battery maker CATL, which is a part of the availability chain for automakers similar to Ford and Tesla.
CATL shares slid 5% in Shenzhen.
In response to the choice, Tencent stated in a press release that its inclusion on the listing was “clearly a mistake.”
“We are usually not a army firm or provider. Unlike sanctions or export controls, this itemizing has no impression on our enterprise,” the corporate added.
CATL additionally known as the designation “a mistake” in a response, saying it “is just not engaged in any army associated actions.”
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