Tencent tries to soothe concerns about U.S. ban as profit jumps

By Pei Li
HONG KONG (Reuters) - China's Tencent said on Wednesday it did not believe a U.S. move to ban transactions on its international messaging to payments WeChat app would apply to its domestic Weixin platform, potentially limiting fallout from the move.
Tencent is the latest Chinese tech giant caught in the crosshairs of an escalated Sino-U.S. cyber war after President Trump said last week the United States would ban WeChat-related transactions in the country.
In a call after reporting a 37% rise in second-quarter net profit, executives tried to soothe market sentiment and said the company was in the process of seeking further clarification from relevant parties.
Chief financial officer John Lo said Tencent's initial reading was that the U.S. executive order was focused on WeChat in the United ...


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