Tencent's shares in the United States plunged by nearly 10 percent after the decision by the Defense Department, which also targeted Chinese battery, drone and shipping companies.The Defense Department updates annually a list of what it designates as "Chinese military companies," entities it has identified as having both military and commercial technology. Putting Tencent on the list was "clearly a mistake," a spokeswoman for the company said in an emailed statement. "We are not a military company or supplier."Tencent also said that the listing would have "no impact on our business," and that it would "work with the Department of Defense to address any misunderstanding."The designation is a warning to businesses in the US that working with companies on the list could get them barred from future Pentagon contracts. As tensions between the US and China have escalated in recent years, pressure has been growing from lawmakers to find ways to thwart China's advances technologically and militarily. NYT

Tencent a Chinese military firm, says US

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