DIDI - Hong Kong market drops after SEC hints at delisting some Chinese stocks

March, 11 2022 08:37 AM DiDi Global Inc. American Depositary Shares (each four representing one Class A)

Hong Kong's Hang Seng Index closed down 1.6% after the U.S. Securities and Exchange Commission named five China-based companies that could be delisted if they don't allow U.S. authorities to review company audits for three straight years. That followed a selloff of U.S.-listed Chinese shares, especially in tech names, on Thursday. KraneShares CSI China Internet ETF (NYSEARCA:KWEB) fell 9.8% and KraneShares MSCI All China Index ETF (NYSEARCA:KALL) slid 2.7% in Thursday trading. KE Holdings (NYSE:BEKE), a real estate-focused fintech, dropped 24% and fintech Futu Holdings (NASDAQ:FUTU) fell 16% in regular trading in New York on Thursday. In the U.S., many Chinese stocks are poised for a positive open. JD.com (NASDAQ:JD), which sank 16% on Thursday, was up 4.0% in premarket. Futu (FUTU), which reported earnings on Friday, is gaining 5.7% premarket. Yum China Holdings (NYSE:YUMC), one of the stocks named by the SEC, fell 11% on Thursday, but is rising 1.4% before Friday's bell rings. Not

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Hong Kong market drops after SEC hints at delisting some Chinese stocks

Company Name:	DiDi Global Inc. American Depositary Shares (each four representing one Class A)
Stock Symbol:	DIDI
Market:	NYSE

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