Register now for FREE and unlimited access to reuters.com
Register
Business
U.S.-listed Chinese stocks take a hit as Didi exits NYSE
/cloudfront-us-east-2.images.arcpublishing.com/reuters/4FSUCMTIEBPHHK4B6B4JMUU3FE.jpg "U.S.-listed Chinese stocks take a hit as Didi exits NYSE")
Dec. 3 (Reuters) – U.S.-listed shares of Alibaba, Baidu, JD.com and other Chinese companies fell on Friday as rideshare giant Didi Global Inc’s (DIDI.N) decision to end. withdrawing from the New York Stock Exchange added to concerns over tighter regulatory control at home and strained Sino-US relations.
Shares of Didi, which is currently pursuing a Hong Kong listing after succumbing to pressure from Chinese regulators concerned about data security, plunged 22.2% to close at $ 6.07. The company had priced its IPO at $ 14 apiece in June to raise $ 4.4 billion. Read more
“This will now set a precedent for other companies listed in the United States, especially those with data issues,” said Justin Tang, head of Asian research at United First Partners, Singapore.
The crackdown began with Ant’s botched IPO. The Chinese government has already shown that it will go beyond what the market expects. It will be some time before feelings deteriorate in the market. with regard to Chinese names. “
Alibaba fell 8.2%, Baidu 7.8% and JD.com 7.7% as investors were on the alert as Beijing targets sectors ranging from games to education.
Education companies TAL Education (TAL.N) and New Oriental Education & Technology Group fell 8.8% and 9.2%, respectively.
KraneShares CSI China Internet ETF fell 7%, while e-commerce platform Pinduoduo (PDD.O) fell 8.2%, mobile game publisher Bilibili fell 7.1% and the live gaming platform operator HUYA (HUYA.N) plunged 12.9%.
“From our perspective, all stocks listed in China, even Hong Kong, became non-investable with the crackdown in Hong Kong in mid-2020, so we sold our only stake (Tencent listed in Hong Kong) in August 2020 “said William de Gale. , co-founder and senior portfolio manager of BlueBox Asset Management, which does not own any Chinese ADRs.
Peter Kisler, portfolio manager of Trium Capital EM, said: “The problem is that all ADR holders could get stuck with Hong Kong stocks, and I’m sure there would be issues regarding the fact. that some people would not be allowed to hold them – thus be a forced sale.
Meanwhile, the U.S. Securities and Exchange Commission said Thursday that Chinese companies listed on U.S. stock exchanges must disclose whether they are owned or controlled by a government entity, and provide evidence of their audit inspections. Read more
Register now for FREE and unlimited access to reuters.com
Register
Reporting by Medha Singh in Bengaluru, additional reporting by Anshuman Daga in Singapore and Caroline Valetkevitch in New York, Marc Jones and Simon Jessop in London; Editing by Sriraj Kalluvila and Sandra Maler
Our standards: Thomson Reuters Trust Principles.
|
Sources 2/ https://www.reuters.com/markets/europe/us-listed-chinese-shares-take-knock-didi-exit-nyse-2021-12-03/ The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
