DIDI - Wall Street Breakfast: China Wipeout

July, 27 2021 06:59 AM DiDi Global Inc. American Depositary Shares (each four representing one Class A)

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. China wipeoutSweeping crackdowns across China are continuing to send shockwaves across financial markets, with investors finding themselves in the firing line of some of the nation's hottest sectors. Shares of Tencent (OTCPK:TCEHY) fell 10% on Monday after Beijing ordered the company to give up exclusive music licensing rights, food delivery companies such as Meituan (OTCPK:MPNGY) were also targeted, while education stocks like TAL Education (NYSE:TAL), New Oriental (NYSE:EDU) and Gaotu Techedu (NYSE:GOTU) slumped about 25% each amid a ban on for-profit tutoring. In fact, the Nasdaq Golden Dragon China Index - which tracks 98 of China's largest firms listed in the U.S. - dropped 8.5% on Friday and another 7% on Monday, marking the biggest two-day selloff since '08. Analyst commentary: "Even when you think China

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Wall Street Breakfast: China Wipeout

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

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