Benzinga | Jun 9, 2021 01:06PM EDT

Biden Government Orders Review Of Trump's Order Banning TikTok, WeChat: Reuters

* President Joe Biden has reversed a series of bans on the new downloads of ByteDance's TikTok, Tencent Holdings Ltd's (OTC:TCEHY) WeChat, and initiated a new Commerce Department review of the alleged security concerns regarding the apps, Reuters reports.

* The bans were also imposed on eight other communications and financial technology software applications. Former President Donald Trump had initiated the ban orders.

* A separate U.S. national security review of TikTok remains active.

* Price action: TCEHY shares traded lower by 0.18% at $77.45 on the last check Wednesday.