Tencent’s shares plunged nearly 10 percent after it was designated a military company. The Chinese battery manufacturer CATL was also added to the list.

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.

The U.S. Defense Department said on Monday it has added Chinese tech giants including gaming and social media leader Tencent Holdings and battery maker CATL to a list of firms it says work with China's military.