Premarket: Didi’s delisting could spell the end for Chinese stocks on Wall Street
3 years ago

Premarket: Didi’s delisting could spell the end for Chinese stocks on Wall Street

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “Didi’s repatriation to is a significantly worrying indicator for the larger US-Sino economic relationship,” Brock Silvers, chief investment officer at Kaiyuan Capital in Hong Kong, told me. “Beijing essentially forced Didi’s hand.” Shortly after its $4.4 billion initial public offering in the United States in late June, Chinese regulators banned Didi from app stores in China, saying it broke data privacy laws and posed cybersecurity risks. “Chinese founders previously looked to for a number of reasons, including looser listing standards, often higher multiples and a domicile beyond Beijing’s financial regulatory grasp,” Silvers said. “That calculus has rapidly changed, and today’s companies — especially established market leaders or those in certain tech sectors — will likely face increasing pressure to list on China-controlled exchanges.” Omicron fears hang over November job report November looks to have produced another solid month of job gains as the US economy continued its recovery from the pandemic.

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History of this topic

China’s Didi bounces back from losses caused by Beijing’s crackdown on internet services as it prepares IPO in Hong Kong
4 months ago

China’s Didi bounces back from losses caused by Beijing’s crackdown on internet services as it prepares IPO in Hong Kong

Live Mint  

- Didi Global Inc. swung to a profit in the June quarter, a welcome boost for the company as it prepares for a potential re-listing in Hong Kong. China’s leading ride-hailing provider reported a net profit of 1.4 billion yuan, from a small loss a year earlier. Once hailed as a national champion that defeated Uber Technologies Inc. in China, …

Everything China’s doing to rescue its battered stock market
9 months, 3 weeks ago

Everything China’s doing to rescue its battered stock market

Live Mint  

Chinese stocks have struggled for traction since returning from the Lunar New Year break, adding pressure on Beijing to provide more support and restore confidence in an economy grappling with a property slump and stubborn deflation. Regulators Check in With Listed Firms China’s regulatory officials visited listed companies in 20 provinces and municipalities from Jan. 29-Feb. 4, according to a …

Stock market today: Asian stocks mostly fall as Chinese shares skid despite moves to help markets
10 months, 2 weeks ago

Stock market today: Asian stocks mostly fall as Chinese shares skid despite moves to help markets

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. On Friday, Big Tech stocks …

Vantage | Why investors are pulling money out of China's stock markets
11 months ago

Vantage | Why investors are pulling money out of China's stock markets

Firstpost  

As India celebrates the consecration of the Ram Temple in Ayodhya, the festive mood is overshadowed by discontent in its neighbouring countries. Meanwhile, China, India’s iron brother, is grappling with significant economic challenges, leading to a mass exodus of investors and mounting losses in its financial markets. The decline of Hong Kong’s financial prowess signifies a shift in China’s growth …

Didi Global plans to list on Hong Kong stock exchange in 2024: Bloomberg
1 year, 2 months ago

Didi Global plans to list on Hong Kong stock exchange in 2024: Bloomberg

Live Mint  

Didi global news: Didi Global Inc, the largest ride-hailing business in China, plans to list on the Hong Kong stock exchange in the upcoming year. Any fresh listing would require approval from Chinese authorities, which compelled Didi to delist following its IPO on the fresh New York Stock Exchange last year, said Bloomberg in its news report. This move is …

Global investors are bullish again on China as Beijing switches to damage control
2 years, 1 month ago

Global investors are bullish again on China as Beijing switches to damage control

CNN  

Hong Kong CNN Business — Market sentiment on Chinese stocks hit rock bottom just weeks ago after President Xi Jinping secured a historic third term in power and stacked his top team with loyalists in a clean sweep not seen since the Mao era. Reuters also reported Wednesday that US regulators gained “good access” in their review of auditing work …

Five major Chinese firms to delist from New York Stock Exchange amid US-China tensions over Taiwan
2 years, 4 months ago

Five major Chinese firms to delist from New York Stock Exchange amid US-China tensions over Taiwan

Firstpost  

Sinopec and PetroChina – two of the world’s biggest energy firms – are among the companies that will apply for “voluntary delisting” of their American depositary shares Beijing: Five major Chinese companies including two of the country’s largest oil producers will delist from the New York Stock Exchange, the firms said in filings on Friday. Sinopec and PetroChina – two …

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon
2 years, 6 months ago

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon

CNN  

Hong Kong CNN Business — Shares in Chinese tech companies have surged this week on hopes that Beijing is close to ending a yearlong regulatory crackdown on the industry. The gains followed a strong session for Chinese stocks on Wall Street on Monday,when the Nasdaq Golden Dragon China Index soared 5.4%. “The headline sparked speculation that Beijing was ending the …

Didi’s disastrous foray onto Wall Street is over
2 years, 7 months ago

Didi’s disastrous foray onto Wall Street is over

CNN  

Hong Kong CNN Business — Shareholders voted Monday in favor of Didi’s plan to quit the New York Stock Exchange less than a year after China’s largest ride-hailing firm launched its $4.4 billion initial public offering. Just days after Didi’s Wall Street debut last summer, Chinese authorities banned the service from app stores in the country, and initiated a cybersecurity …

Didi is facing an SEC probe into its botched IPO, company says
2 years, 7 months ago

Didi is facing an SEC probe into its botched IPO, company says

CNN  

Hong Kong CNN Business — Didi says it is facing an investigation by US regulators into its botched IPO last year. The Chinese ride-hailing giant said in a regulatory filing this week that it is cooperating with the investigation by the US Securities and Exchange Commission about its share offering, “subject to strict compliance with applicable laws and regulations.” “We …

Chinese stocks are on a roller coaster with no end in sight
2 years, 9 months ago

Chinese stocks are on a roller coaster with no end in sight

CNN  

New York CNN Business — US-listed Russian stocks have been in freefall following the invasion of Ukraine — but it’s not the only nation whose stocks are getting whipsawed. A committee chaired by Chinese Vice Premier Liu He said last week that the government should “actively roll out policies that benefit the markets.” “China’s promise to ease the regulatory crackdown …

Didi departure from NYSE marks end of Wall Street romance with Chinese big tech
3 years ago

Didi departure from NYSE marks end of Wall Street romance with Chinese big tech

Hindustan Times  

The Chinese ride-hailing giant Didi Chuxing's announcement that it will delist its shares from the New York Stock Exchange marks the end of a cushy relationship between Wall Street and Chinese tech giants, who are under siege from authorities in Beijing and regulators in America. An American flag is pictured in front of the logo for Chinese ride hailing company …

Didi Global plans to delist from New York, seek listing in Hong Kong
3 years ago

Didi Global plans to delist from New York, seek listing in Hong Kong

The Hindu  

Ride-hailing giant Didi Global said on Friday it will delist from the New York stock exchange and pursue a listing in Hong Kong, succumbing to pressure from Chinese regulators concerned about data security. "Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong," Didi said on its …

SEC temporarily halts approvals of new Chinese IPOs after Didi debacle
3 years, 4 months ago

SEC temporarily halts approvals of new Chinese IPOs after Didi debacle

CNN  

New York CNN Business — The Securities and Exchange Commission has told its staff to ask for more disclosures from Chinese companies seeking to go public in the United States before it will approve any plans for them to sell shares. The announcement Friday, first reported by Reuters, shows regulators are taking a much more cautious stance on Chinese companies …

China Cracks Down On Its Tech Giants. Sound Familiar?
3 years, 4 months ago

China Cracks Down On Its Tech Giants. Sound Familiar?

Wired  

China’s Ministry of Industry and Information Technology announced a six-month campaign on Monday to regulate internet companies, particularly practices that “disrupt market order, damage consumer rights, or threaten data security.” That followed repeated fines against tech giants including Alibaba, Baidu, and Tencent for violating antitrust laws, and a new plan to restrict overseas listings by Chinese companies. Citing “serious violations …

Beijing calls for calm after historic tech stock rout
3 years, 4 months ago

Beijing calls for calm after historic tech stock rout

CNN  

Hong Kong CNN Business — Chinese state media is urging investors to stay calm following a brutal stock market sell-off this week that has wiped out hundreds of billions of dollars in value. Chinese state-run newspaper Securities Times published a commentary Wednesday acknowledging the “changes in policy for certain industries” after a market rout on Monday and Tuesday that came …

Premarket stocks: China’s escalating crackdown on business is moving stocks
3 years, 4 months ago

Premarket stocks: China’s escalating crackdown on business is moving stocks

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. You can sign up right here London CNN Business — The whims of regulators in Beijing have always posed a risk to investors looking to tap into growth in China, the world’s second largest economy. Shares of Meituan, China’s largest food delivery service, plummeted on Monday …

The SEC should investigate the Didi IPO fiasco, Senator Van Hollen says
3 years, 5 months ago

The SEC should investigate the Didi IPO fiasco, Senator Van Hollen says

CNN  

New York CNN Business — Democratic Senator Chris Van Hollen called on US financial regulators to probe the disastrous IPO of Chinese ride-hailing company Didi. “The SEC should thoroughly investigate this incident to see if investors were intentionally misled by Didi’s public disclosures,” Van Hollen told CNN Business in a statement. “American investors need confidence that the companies that list …

Didi, Alibaba, Tencent stocks roiled by worsening crackdown
3 years, 5 months ago

Didi, Alibaba, Tencent stocks roiled by worsening crackdown

CNN  

Hong Kong CNN Business — China is not slowing down with its historic tech crackdown. A bunch of antitrust fines The latest concerns unfolded Wednesday when China’s antitrust regulator fined several internet companies — including Didi, Alibaba and Tencent — over accusations that they violated thecountry’sAnti-Monopoly Law while making mergers or acquisitions over the last 10 years, according to the …

Premarket stocks: Didi’s IPO was a disaster. Here’s why Chinese companies keep listing in the US
3 years, 5 months ago

Premarket stocks: Didi’s IPO was a disaster. Here’s why Chinese companies keep listing in the US

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. It’s also bad for the New York Stock Exchange, which has been caught up in a campaign by US politicians who want to prevent Chinese companies from raising money in New York. “Even if the stock rebounds, American investors still have no insight into the company’s …

China tech crackdown wipes out billions from Didi, other U.S.-listed firms
3 years, 5 months ago

China tech crackdown wipes out billions from Didi, other U.S.-listed firms

The Hindu  

Didi Global Inc shares slumped as much as 25% in U.S. pre-market trade on Tuesday, ahead of its first session since Chinese regulators ordered the company's app be taken down days after its $4.4billion listing on the New York Stock Exchange. Other U.S.-listed Chinese companies including Full Truck Alliance and Kanzhun Ltd were also set to open lower on Tuesday …

China tech crackdown wipes out billions from Didi, other US-listed firms
3 years, 5 months ago

China tech crackdown wipes out billions from Didi, other US-listed firms

Live Mint  

Didi Global Inc shares slumped as much as 25% in U.S. pre-market trade on Tuesday, ahead of its first session since Chinese regulators ordered the company's app be taken down days after its $4.4 billion listing on the New York Stock Exchange. Other U.S.-listed Chinese companies including Full Truck Alliance and Kanzhun Ltd were also set to open lower on …

Didi shares crash after China bans it from app stores
3 years, 5 months ago

Didi shares crash after China bans it from app stores

CNN  

Hong Kong CNN Business — Didi shares plunged almost 20%Tuesday in New York as fallout continued over news of the company’s troubles in China. Tuesday wasthe first trading day in the United States since Chinese regulators banned Didi’s ride-hailing platform from app stores in the country over the weekend. China will begin regulating what kind of information those tech companies …

China suspends registrations of new Didi users, citing cybersecurity review
3 years, 5 months ago

China suspends registrations of new Didi users, citing cybersecurity review

CNN  

CNN Business — Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. China put the suspension in place “to prevent the expansion of risk” during a “cybersecurity review” into the company, according to a statement from the country’s cyberspace administration. A crackdown on Big Tech Didi’s debut on the NYSE and the …

Didi shares gain 1% after early jump in Wall Street debut
3 years, 5 months ago

Didi shares gain 1% after early jump in Wall Street debut

Associated Press  

BEIJING — Didi Global Inc., a Chinese ride-hailing service, gained 1% Wednesday in its highly anticipated U.S. stock market debut, giving up most of a early double-digit gain. Didi’s U.S. market debut comes a day after the company said it lost $5.5 billion over the past three years, though the company also touted its global reach and investments in developing …

Didi stock closes 1% above IPO price in blockbuster US launch
3 years, 5 months ago

Didi stock closes 1% above IPO price in blockbuster US launch

CNN  

Hong Kong CNN Business — Didi went public Wednesday in the biggest US share offering by a Chinese company since Alibaba debuted in 2014. Didi raised $4.4 billion from the stock sale, making it the largest Chinese IPO in the United States since Alibaba’s $25 billion offering in 2014, according to Dealogic. The company was founded in Beijing in 2012 …

Premarket stocks: Wall Street isn’t freaking out about the Delta variant. Here’s why
3 years, 5 months ago

Premarket stocks: Wall Street isn’t freaking out about the Delta variant. Here’s why

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Political leaders are trying to affirm this message, with the UK’s new health minister saying he sees “no reason” to push back the country’s official reopening date next month. According to public filings, China’s biggest ride-hailer could debut as soon as Wednesday on the New York …

Didi IPO: Chinese ride-hailing giant files for US IPO
3 years, 6 months ago

Didi IPO: Chinese ride-hailing giant files for US IPO

CNN  

New York / Hong Kong / New Delhi CNN Business — Didi, China’s giant ride-hailing company, filed paperwork for an initial public offering in the United States with the Securities and Exchange Commission on Thursday. Didi acknowledged the risks in its prospectus, writing that there have been “heightened tensions in international economic relations.” It mentioned US-China disputes on trade, Covid-19 …

China's small tech firms step out of the shadows as giants reel from regulatory crackdown
3 years, 9 months ago

China's small tech firms step out of the shadows as giants reel from regulatory crackdown

The Hindu  

One firm's loss is another's gain. China's smaller technology companies and investors are eager to seize the day as a sweeping crackdown by anti-monopoly regulators on the country's internet giants creates a wealth of new opportunities. "Since December, we've seen clients whose credit lines have been reduced or restricted by lending giants transfer to our services," 360 DigiTech Chief Financial …

Asian shares mostly higher, China markets fall back
3 years, 10 months ago

Asian shares mostly higher, China markets fall back

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Asian shares were mostly higher …

Premarket stocks: America is in turmoil. But investors are focused on what comes next
3 years, 11 months ago

Premarket stocks: America is in turmoil. But investors are focused on what comes next

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “Even as the protesters marched to the Capitol building, stock markets stoically marched higher,” Rabobank analyst Bas van Geffen said. “The rationalization of these moves is a focus on the longer term: with the Democrats now looking set for majority in both the House and the …

Wall Street will kick out three big Chinese telecom companies
3 years, 11 months ago

Wall Street will kick out three big Chinese telecom companies

CNN  

Hong Kong CNN Business — Washington’s battle with Beijing is escalating once more on Wall Street. The New York Stock Exchange will end trading in the shares of three of China’s largest state-owned telecom companies this month. China’s Ministry of Commerce, meanwhile, said in a statement on Saturday that Beijing would take “necessary measures” to safeguard the interests of Chinese …

China oil majors may face US delisting after NYSE drops telcos
3 years, 11 months ago

China oil majors may face US delisting after NYSE drops telcos

Live Mint  

Chinese oil majors may be next in line for delisting in the US after the New York Stock Exchange said last week it would remove the Asian nation’s three biggest telecom companies. China’s largest offshore oil producer CNOOC Ltd. could be most at risk as it’s on the Pentagon’s list of companies it says are owned or controlled by Chinese …

Premarket stocks: China’s economy is the envy of the world
4 years, 2 months ago

Premarket stocks: China’s economy is the envy of the world

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. London CNN Business — China’s economy expanded by 4.9% in the third quarter compared to the previous year, according to government data published Monday, showing the rest of the world what’s possible when Covid-19 is brought under control. “China’s economy continued its rapid rebound last quarter, …

Premarket stocks: What keeps Wall Street up at night
4 years, 3 months ago

Premarket stocks: What keeps Wall Street up at night

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “The Street generally dislikes uncertainty and therefore we sense a desire from fund managers to get a better ‘feel’ for these items before committing to equities for next year,” Tobias Levkovich, Citi’s chief US equity strategist, said in a recent research note. On that last item, …

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