On Jan. 5, U.S. President Donald Trump signed an executive order to ban U.S. transactions with eight widely-used Chinese software applications, including Ant Group’s Alipay and Tencent’s QQ and WeChat Pay.
Alibaba Group Holding’s U.S.-listed shares plunged 13.3% to $34.18 on Dec. 24, after news broke that the e-commerce giant will be investigated by anti-trust regulators.
