HK Stock Market Move | Tencent (00700) rose more than 2% in midday trading, Tencent's WeChat has been removed from the 2024 counterfeit and privacy infamy market list.

TENCENT (00700) rose more than 2% during trading hours, and as of the time of this report, it has risen 2.65% to HK$379, with a turnover of HK$13.356 billion. On the news front, on January 8th, the US Trade Representative's Office published the "2024 Counterfeiting and Privacy Infringement Market List," with several Chinese internet products still listed. Tencent's WeChat, which has been on the list before, has been removed this time. The "Market List" aims to expose online and physical markets with large-scale piracy and counterfeit trademarks, and has long been targeting well-known products of Chinese well-known companies. Unlike the CMC list issued by the Deputy Minister's Office of the Ministry of National Defense, which restricts listed companies from purchasing transactions with the Ministry of National Defense and its suppliers, the "Market List" is issued by the US President's Office and is more comprehensive in its trade targeting. Analysts at Deutsche Bank stated in a research report that Tencent's stock price may experience fluctuations in the near future after being included in the US Department of Defense's list of military-industrial enterprises, but this should not have any impact on Tencent's business operations.