October 4, 2022
With DiDi in the spotlight, Chinese tech stocks start week with mixed results

Chinese tech stocks put in a mixed performance, Monday, with ride-sharing leader DiDi Global (NYSE:DIDI) getting some attention with the latest turn in its plans to delist its shares from the New York Stock Exchange.

DiDi (DIDI) was up by 2% after the company disclosed it has let the U.S. Securities and Exchange Commission it intends to file its delisting paperwork “on or after” June 2. DiDi (DIDI) said its shares should stop trading in New York 10 days after its paperwork filing.

China’s tech leaders been dealing with more than a year of regulatory pressures from the Beijing government due to those companies use of their customers’ data and other business practices.

Among big-name Chinese tech companies, Alibaba (BABA) shares rose 1.3%, while Tencent Holdings (OTCPK:TCEHY) slipped by 1.4%, Baidu (BIDU) was off by 1%, Weibo (WB) edged up by 0.6% and Bilibili (BILI) fell almost 5%.

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