Tencent shares slide more than 4% after Trump bans WeChat

Chinese tech giant Tencent's shares fell more than four percent on Friday morning following US President Donald Trump's orders to ban WeChat-related US transactions.

READ: US proposes tougher Wall Street rules for China firms

The orders come as the Trump administration said this week it was stepping up efforts to purge "untrusted" Chinese apps from US digital networks and called the Chinese-owned short-video app TikTok and messenger app WeChat "significant threats".