U.S.-listed shares of Chinese companies, including Nio and Alibaba, tank in the wake of Didi Global's news it will delist its shares from the New York Stock Exchange.
Read More...
U.S.-listed shares of major Chinese companies, including electric-car maker Nio Inc. and e-commerce giant Alibaba Group Holding Inc., tanked on Friday following news that ride-sharing company Didi Global Inc. plans to delist from the New York Stock Exchange.
American depositary receipts of Nio Inc. NIO, -12.32%, which earlier this week reported rising November sales, were off 12% in late trading Friday, poised to end the week off more than 20%. Li Auto Inc. LI, -16.81%, another Chinese EV maker that reported November sales this week, fell 16%, putting it on track for weekly losses of around 13%.
