TikTok said it will exit the Hong Kong market within days, Reuters report said quoting a spokesman of the company as saying on late Monday. The development comes as other technology companies including Facebook have blocked the Hong Kong government from accessing user data in the region.

TikTok said it will exit the Hong Kong market within days, Reuters report said quoting a spokesman of the company as saying on late Monday. The development comes as other technology companies including Facebook have blocked the Hong Kong government from accessing user data in the region. The short-form video app owned by China-based ByteDance has made the decision to exit the region following China's establishment of a sweeping new national security law for the semi-autonomous city, the report added. "In light of recent events, we've decided to stop operations of the TikTok app in Hong Kong," a TikTok spokesman said in response to a Reuters question about its commitment to the market. The company, now run by former Walt Disney Co executive Kevin Mayer, has said in the past that the app's user data is not stored in China. (With inputs from Reuters)

TikTok will exit Hong Kong market within days, says company spokesman

As odds of the global recession rises the government and central banks around the world are racing to restore the economic damage from the spread of the novel coronavirus. The death toll has already landed hard on the jittery financial markets. Watch report:

Global stocks plunge on coronavirus fears

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TikTok will exit Hong Kong market within days, says company spokesman

Global stocks plunge on coronavirus fears