Tencent Music Shares Jump 5% After WeChat Data Security Crackdown
Tencent Music Entertainment (TME) shares ROSE nearly 5% after parent company Tencent Holdings forced the removal of over 30 third-party WeChat export tools from GitHub. The move, framed as a data privacy safeguard, involved tools that allegedly bypassed WeChat’s encryption through reverse engineering.
The takedown has ignited debate about user control over chat histories, with Tencent asserting copyright and security violations. Investors reacted positively, interpreting the aggressive enforcement as a sign of disciplined corporate governance amid global scrutiny of social media data practices.
Notably absent from the rally were crypto-linked stocks, suggesting the market viewed this as a company-specific operational win rather than a sector-wide signal. The action underscores Tencent’s tightening grip on its ecosystem as regulators worldwide escalate data oversight.
