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U.S.-listed shares of China companies drop on fears of more crackdowns

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The Didi ride-hailing app on a smartphone arranged in Beijing, China, on Monday, July 5, 2021.

Yan Cong | Bloomberg | Getty Images

U.S. traded stocks of Chinese companies

Shares of Didi fell more than 20% in premarket trading after the Chinese government blocked the company’s app from being downloaded.

The action by Chinese regulators comes less than a week after Didi listed its shares in the U.S. Two smaller recent listings — Full Truck Alliance and Kanzhun — are also under review by regulators and saw their shares fall sharply on Tuesday morning.

Concerns about investing in Chinese stocks have grown in recent years, with former president Donald Trump attempting to ban investment in…



Source cnbc.com

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