Heard on the Street: The Trump administration’s latest moves against China could have profound impacts. But the winners and losers might not be as expected.
The White House shot with both barrels at Sino-U.S. financial links Thursday, firing off a plan that could force Chinese companies to give up U.S. listings and executive orders restricting transactions related to ByteDance and Tencent Holdings, two major Chinese tech companies.
One major winner could be Microsoft, which is negotiating to buy the popular short-video app TikTok from ByteDance. Another could be the Hong Kong stock exchange, the likely default option for the delisted Chinese companies.
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