China’s largest public company by market capitalization spent the equivalent of about $193.3 million to buy back 4.05 million shares on Wednesday.

The United States has labeled additional Chinese tech and social media firms as Beijing military companies, including multimedia firm Tencent and battery maker Contemporary Amperex Technology, better known as CATL.

KEY TAKEAWAYS Shares of Tencent Holdings sank 7% in Hong Kong trading Tuesday after the WeChat parent was added by the U.S. Department of Defense to its list of "Chinese military companies."The blacklist,