The rise and fall still depends on Trump's face? Last night, there was a news from the White House that Tencent's ADR soared, rising by more than 5%.

What happened?

Trump administration may allow US companies to use Wechat in ChinaTencent ADR pull up in a straight line

At a time when the US government is constantly threatening to crack down on Chinese companies, Bloomberg has just quoted several people familiar with the matter as saying that the Trump administration has said that US companies can continue to use Wechat in China, according to a comprehensive report on the World wide Web.

Bloomberg said the U.S. government is still studying how to impose a ban on Tencent's app and whether to allow it to be downloaded from Apple Inc and Alphabet Inc-CL C's global app stores outside the United States.

Two people familiar with the matter said the move was aimed at banning downloading or updating Wechat apps in U. S. app stores, Bloomberg said. American companies with operations in China, such as Starbucks Corp, can still promote and handle transactions with Chinese consumers through the app, they said.

Bloomberg also said some lobbying groups have been urging the U.S. government to narrow the ban.

Craig Allen, chairman of the U.S.-China Business Council, said: "We are talking to all the people who will listen to us. Bloomberg said the organization represents the interests of companies such as Walmart Inc and General Motors Co.

"Wechat is a bit like electricity in China," Allen said. "in China, you need to use it anywhere. "

The White House and Tencent didn't immediately respond to comment, the report said.

On the news, Tencent's US ADR rose in a straight line, rising 5.6 per cent to $69.95 at one point, the biggest intraday rise in a month.

On the 6th of this month, US President Trump signed an executive order against TikTok and Wechat, announcing that after 45 days, any US individual and enterprise will be banned from any transaction with the byte jump of TikTok parent company, and from any Wechat-related transaction with Tencent Company. The ban will come into effect on September 20th.

After Trump signed the executive order banning Wechat, the number of Wechat downloads in the United States surged 41% and the number of Wechat QQ downloads tripled. Wechat has 19 million daily active users in the United States, according to Apptopia, a mobile app data provider.

Many small American businesses, especially Asian restaurants, use Wechat as a tool to order food. Wechat is more important than American food delivery platform Seamless. About 60 per cent of the business of Kung Fu Steamer, a Chinese restaurant in Brooklyn, New York, gets its business through Wechat, which is the main platform for bulk orders for individual customers and companies.

Earlier, more than a dozen US multinationals, including Apple Inc, Ford, Walmart Inc and Walt Disney, joined forces to oppose the US government's plan to restrict business transactions involving Wechat. It said the move would weaken the competitiveness of companies in China, the world's second-largest economy.

Us Wechat user Organization ProgramSue Trump against the Wechat executive order

In addition, CCTV reported that according to local media reports, a US Wechat user organization, the American Wechat users Alliance, will formally submit a complaint to the District Federal Court in the Northern District of California on Aug. 21, local time, suing President Trump for violating their constitutional powers by signing an executive order against Wechat.

Michael Bean, the attorney in charge of the prosecution, said: "Trump's ban will deprive US Wechat users of a very important part of their daily lives." American users rely on Wechat to communicate, organize communities, run businesses, and initiate political participation activities. In the first Amendment to the Constitution of the United States, the government is prohibited from making any laws to restrict freedom of speech, freedom of the media, and freedom of organization and assembly.

Bean added: "the Supreme Court knows that social media applications and functions are the equivalent of social public space. It is a square where you can speak, give speeches, learn, and analyze knowledge and information. "