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DiDi Global Inc (PK)

DiDi Global Inc (PK) (DIDIY)

3.83
0.02
(0.52%)
Closed March 28 04:00PM

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Key stats and details

Current Price
3.83
Bid
3.80
Ask
3.86
Volume
7,730,126
3.77 Day's Range 3.86
0.00 52 Week Range 0.00
Market Cap
Previous Close
3.81
Open
3.82
Last Trade Time
Financial Volume
$ 29,402,660
VWAP
3.8036
Average Volume (3m)
-
Shares Outstanding
4,390,000,000
Dividend Yield
-
PE Ratio
-0.41
Earnings Per Share (EPS)
-5.62
Revenue
140.79B
Net Profit
-24.68B

About DiDi Global Inc (PK)

Sector
Business Services, Nec
Industry
Business Services, Nec
Headquarters
Grand Cayman, Cym
Founded
1970
DiDi Global Inc (PK) is listed in the Business Services sector of the OTCMarkets with ticker DIDIY. The last closing price for DiDi Global (PK) was $3.81. Over the last year, DiDi Global (PK) shares have traded in a share price range of $ 0.00 to $ 0.00.

DiDi Global (PK) currently has 4,390,000,000 shares outstanding. The market capitalization of DiDi Global (PK) is $10.05 billion. DiDi Global (PK) has a price to earnings ratio (PE ratio) of -0.41.

DIDIY Latest News

Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend]

  UNITED STATES SECURITIES AND EXCHANGE COMMISSION  Washington, D.C. 20549   SCHEDULE 13G   Under the Securities Exchange Act of 1934   (Amendment No. 2)*  ...

Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend]

      UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549   SCHEDULE 13G   Information to Be Included in Statements Filed Pursuant to §...

Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

      UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 6-K   REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16...

Crypto This Monday: Ant Group Abandons Crypto Fund, Blockchain Capital Raises US$580 Million, and More

Ant Group withdraws from crypto fund after controversies Chinese fintech giant Ant Group is parting ways with crypto fund A&T Capital, which had a value of $100 million and focused on...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000DR
40000000DR
120000000DR
260000000DR
520000000DR
1560000000DR
2600000000DR

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DIDIY Discussion

View Posts
Oh The Wise Guy Oh The Wise Guy 3 months ago
BYD is also traded on pink sheets over the counter and yet it's $53 per share. The largest electric car/busses and rechargeable battery manufacturer in China
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make it happen make it happen 6 months ago
idk why but feel this ticker is a little shady delisted to pinks and less than 0.7% institutional ownership with a $16,000,000,000 billion market cap
👍️0
make it happen make it happen 6 months ago
When loses $3.00 imo will drop fast. It's a stinky pinky 99.9% don't end well from what I've seen over 13 years
👍️0
bigfred1 bigfred1 1 year ago
Jan 13 (Reuters) - Chinese authorities are set to allow Didi Global's ride-hailing and other apps back on domestic app stores as soon as next week, five sources told Reuters, in yet another signal that their two-year regulatory crackdown on the technology sector is ending.

Didi has been awaiting authorities' approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to resume normal business since its regulatory troubles started in mid-2021.
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make it happen make it happen 1 year ago
They are paying $1 billion for committing data breaches. That's more than 2 years of revenue.
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make it happen make it happen 1 year ago
DIDIY has unaudited financial reports.

Market cap over $14,500,000,000 billion with only $450 million revenue a 25% drop year over year.

From NYSE to the pink sheets. Huge negative, imho.
👍️0
TommyBoyTrader9460 TommyBoyTrader9460 1 year ago
$DIDIY Continues on my my watchlist and for good reason..nice steady climb up the chart…

https://stockcharts.com/c-sc/sc?s=DIDIY&p=D&b=5&g=0&i=0&r=1668255847517
👍️0
TommyBoyTrader9460 TommyBoyTrader9460 1 year ago
$DIDIY Strong close above the 50 day MA tells me this one is gaining even more strength as it climbs the chart..


https://stockcharts.com/c-sc/sc?s=DIDIY&p=D&b=5&g=0&i=0&r=1667648184678
👍️0
wEaReLeGiOn wEaReLeGiOn 2 years ago
She's bright PINK--shiny & new--DIDIY DIDIY
DiDi Global (PK) Share Price

https://ih.advfn.com/stock-market/USOTC/didi-global-pk-DIDIY/historical

DIDIY
DiDi Global (PK) Historical Data

Company Name Stock Ticker Symbol Market Type
DiDi Global Inc (PK) DIDIY OTCMarkets Depository Receipt
Price Change Change Percent Stock Price Last Traded
0.05 1.7% 2.94 16:59:00
Open Price Low Price High Price Close Price Prev Close
2.87 2.79 2.97 2.94 2.89
more quote information »
Memo
Click here to write a private note about this stock.
DIDIY Historical Summary
Period Open High Low VWAP Avg. Daily Vol Change %
1 Week 0.00 0.00 0.00 0.00 0 0.00 0.0%
1 Month 0.00 0.00 0.00 0.00 0 0.00 0.0%
3 Months 0.00 0.00 0.00 0.00 0 0.00 0.0%
6 Months 0.00 0.00 0.00 0.00 0 0.00 0.0%
1 Year 0.00 0.00 0.00 0.00 0 0.00 0.0%
3 Years 0.00 0.00 0.00 0.00 0 0.00 0.0%
5 Years 0.00 0.00 0.00 0.00 0 0.00 0.0%
DIDIY 1 Month Historical Prices
Date Close Change Change (%) Open High Low Volume
Jul 14 2022 2.89 -0.14 -4.62% 2.99 3.01 2.88 9,669,866
Jul 13 2022 3.03 0.02 0.66% 2.96 3.10 2.90 6,514,166
Jul 12 2022 3.01 0.05 1.69% 3.00 3.05 2.96 3,847,354
Jul 11 2022 2.96 -0.35 -10.57% 3.19 3.295 2.95 8,201,266
Jul 08 2022 3.31 -0.08 -2.36% 3.30 3.37 3.21 5,260,508
Jul 07 2022 3.39 0.11 3.35% 3.34 3.40 3.23 6,374,001
Jul 06 2022 3.28 -0.05 -1.5% 3.31 3.45 3.10 9,867,111
Jul 05 2022 3.33 0.19 6.05% 3.06 3.33 2.95 10,043,856
Jul 01 2022 3.14 0.19 6.44% 3.00 3.21 2.79 18,701,839
Jun 30 2022 2.95 -0.13 -4.22% 3.01 3.085 2.80 16,418,653
Jun 29 2022 3.08 0.06 1.99% 3.16 3.22 3.025 12,866,505
Jun 28 2022 3.02 -0.37 -10.91% 3.38 3.50 3.01 16,996,617
Jun 27 2022 3.39 -0.01 -0.29% 3.50 3.61 3.32 19,700,824
Jun 24 2022 3.40 0.35 11.48% 3.12 3.40 3.05 13,804,277
Jun 23 2022 3.05 0.10 3.39% 3.00 3.11 2.955 16,422,287
Jun 22 2022 2.95 0.08 2.79% 2.87 3.00 2.79 7,342,077
Jun 21 2022 2.87 0.06 2.14% 2.89 2.93 2.80 8,419,162
Jun 17 2022 2.81 0.17 6.44% 2.80 2.88 2.635 18,201,893
Jun 16 2022 2.64 -0.12 -4.35% 2.69 2.775 2.42 26,456,597
Jun 15 2022 2.76 0.00 0.0% 2.78 2.89 2.65 18,101,796
Jun 14 2022 2.76 0.00 +0.00% 2.38 2.87 2.31 0
Jun 14 2022 2.76 0.30 12.2% 2.38 2.87 2.31 28,346,959
======
DIDIY Historical - 1 Day
DIDIY
DIDIY Historical - 1 Year
DIDIY
👍️0
IPO$ IPO$ 2 years ago
I do not see the new ticker symbol trading yet on investors hub.
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teifhals teifhals 2 years ago
Shares of the Chinese ride-hailing giant surged 35.2% after The Wall Street Journal reported regulators are concluding investigations into the company. The Journal reported that authorities would lift a ban on Didi adding new users as early as next week and reinstate the company’s app in domestic app stores. Didi has been one of the worst-hit companies by Beijing’s regulatory tightening and has been the subject of a cybersecurity probe since days after its U.S. IPO.
👍️0
IPO$ IPO$ 2 years ago
Why up today???
👍️0
nicehit nicehit 2 years ago
In Otc will trade in $20's.
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UpTickMeA$AP UpTickMeA$AP 2 years ago
Delisting is official. DIDI going to be a stinky pinky.
👍️0
UpTickMeA$AP UpTickMeA$AP 2 years ago
Game Over. Last ones out, lose everything.


https://ih.advfn.com/stock-market/NYSE/didi-global-DIDI/stock-news/88080930/report-of-foreign-issuer-pursuant-to-rule-13a-16-o

Based on the currently effective laws and regulations, as well as the most recent drafts of laws and regulations released for public comment and communication with the relevant cybersecurity review regulatory authorities, the Company has concluded that it needs to complete the cybersecurity review and rectification in order to resume normal operations, including applying for the 26 Apps to be made available for download on the app stores again and resuming the registration of new users in China, and that if it does not delist from the NYSE, it will not be able to complete the cybersecurity review and rectification, which would have a material adverse impact on the Company’s ability to conduct normal operations, restore its businesses and serve the best interests of its shareholders. During the rectification process, the Company has had confidential communications with the relevant PRC government authorities regarding the cybersecurity review and rectification. However, whether the Company’s rectification measures will satisfy the requirements of the relevant authorities and when it will be able to resume normal operations, including applying for the 26 Apps to be made available for download on the app stores again and resuming the registration of new users in China, remains uncertain. Based on the aforementioned currently effective laws and regulations, most recent drafts of laws and regulations released for public comment and communication with the relevant regulatory authorities, the Company has concluded that it needs to complete the cybersecurity review and rectification in order to resume normal operations, including applying for the 26 Apps to be uploaded to the app stores again and resuming the registration of new users in China.



In addition, pursuant to the currently effective laws and regulations, as well as the most recent drafts of laws and regulations released for public comment, if the Company seeks a listing on another internationally recognized exchange, including the Hong Kong Stock Exchange, or to offer securities overseas in the future, it will be required to complete filings with the relevant regulatory authorities, under which circumstances cybersecurity review would be a prerequisite for such filings. Therefore, the Company strongly believes that this course of action would be most beneficial to its shareholders in that it would help the Company to resume normal operations, restore its businesses and improve its business performance. After the Company resumes normal operations, it may then seek a listing on another stock exchange. In light of the above, the Company is of the view that it is most beneficial to its shareholders for the Company to delist and complete any necessary rectification measures as soon as practicable.
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UpTickMeA$AP UpTickMeA$AP 2 years ago
This stinker is going below $1. Delisted coming.
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UpTickMeA$AP UpTickMeA$AP 2 years ago
https://seekingalpha.com/news/3831675-didi-global-being-probed-by-sec-over-us-ipo
👍️0
DMOST DMOST 2 years ago
China and U.S. Negotiate On-Site Audit Checks as Delistings Loom

(Bloomberg) -- Beijing is discussing with American regulators the logistics of allowing on-site audit inspections of Chinese companies listed in New York, according to people familiar with the matter, a sign of progress in talks to keep U.S. stock markets open to issuers from Asia’s largest economy.

Regulators on both sides are negotiating how to let a team of inspectors from the Public Company Accounting Oversight Board visit China so they can scrutinize auditing procedures and access the reports of a majority of 261 U.S.-listed firms, the people said, requesting not to be named because the matter is private. The talks, aimed at preserving these listings and reviving fresh public offerings, include hammering out issues such as quarantine requirements, the people added.

The two countries have yet to reach a conclusive agreement on moving forward with the checks, the people said.

On-site inspections would kick off the process of satisfying the U.S. that its inspectors will get the full access to audit papers required by legislation passed during the Trump administration. The negotiations gained urgency after the Securities and Exchange Commission began publishing a provisional list of companies that face being kicked off the New York Stock Exchange and Nasdaq Stock Market unless China becomes compliant. SEC Chair Gary Gensler has stressed that the law gives him little room for compromise.

Progress on a standoff that’s festered for two decades would demonstrate Beijing is serious about bolstering market confidence, and balancing national security concerns with the needs of businesses.

Chinese markets have slumped this year, with the benchmark CSI 300 Index plunging 20% as a stringent Covid Zero policy and crackdowns on private enterprise combine to sap investor confidence. Worries about potential delistings have contributed to a 69% slide in the Nasdaq Golden Dragon Index of U.S.-traded Chinese shares since the gauge peaked in February 2021.

“We continue to meet and engage with PRC authorities in an effort to reach an agreement, but speculation about a final agreement remains premature,” the PCAOB said in a statement. It had earlier said that any deal would be a “first step” and that the PCAOB would then investigate to ensure it is being followed.

The China Securities Regulatory Commission didn’t immediately respond to a fax seeking comment, while the SEC declined to comment.

Dozens of countries permit U.S. audit inspections, giving American officials the go ahead to interview local accountants and scrutinize the documentation underlying their work. Mainland China and Hong Kong have refused, citing confidentiality laws and national security concerns.

The SEC is adding companies weekly to a provisional list that could face removal if a congressionally imposed deadline of 2024 isn’t met. They now include Baidu Inc., Weibo Corp. and Futu Holdings Ltd. It’s expected that the list will eventually cover all the Chinese stocks traded in the U.S. including the largest of them, Alibaba Group Holding Ltd.

China’s government is prepared to accept that some state-owned enterprises and private companies that hold sensitive data will be delisted, people familiar with the matter said previously.

The CSRC is confident of reaching a deal and is talking with the PCAOB every two weeks to resolve the dispute, Fang Xinghai, the Chinese regulator’s vice chairman, said last week.

China has also modified a decade-long rule that restricted how offshore-listed firms share financial data. The draft rules delete the requirement that on-site inspections should be mainly conducted by Chinese regulatory agencies or rely on their inspection results.

The CSRC earlier this month promised to provide assistance through a cross-border regulatory cooperation mechanism. All companies listed directly or indirectly overseas will be responsible for properly managing confidential and sensitive information, and protecting national information security, it said.

Under the rules issued in 2009, working papers drafted onshore during the process of overseas share sales couldn’t be shared with any foreign entities or individuals. Working papers that concern state secrets or national security were also prohibited from being stored, processed or transmitted in non-confidential computer systems.

The CSRC has said it’s rare in practice that companies need to provide documents containing confidential and sensitive information. However, if required during the auditing process, they must obtain approvals in accordance with related laws and regulations, the watchdog said.

Chinese authorities are trying to bolster investor confidence following a series of crackdowns that have rattled markets. Promising greater policy stability, China’s top financial regulator last month said it supports overseas listings, prospects for which have been clouded by a raft of new rules and the stand-off with the U.S.

China tightened scrutiny on overseas listings last year after the New York initial public offering of ride-hailing giant Didi Global Inc., which proceeded despite regulatory concerns. In December, it imposed new restrictions on offshore offerings by firms in sectors that are off-limits to foreign investment.

The tightening scrutiny prompted the SEC to halt IPOs of Chinese companies last year until they boosted disclosures of risks posed to shareholders. Only a few Chinese firms have listed in the U.S. following the additional restrictions on both sides.

There were 261 Chinese firms listed in the U.S. as American Depository shares, with a combined market capitalization of $1.4 trillion as of March 31, including eight national-level state-owned enterprises, according to a report from the U.S. government.
https://www.yahoo.com/finance/news/china-u-negotiate-audits-key-034849708.html

GO DIDI

"PEACE"

..However, DIDI has positioned to allow the share price to go lower...?
👍️0
DMOST DMOST 2 years ago
https://www.scmp.com/tech/big-tech/article/3160529/china-tech-crackdown-2021-technology-giants-came-under-intense?module=perpetual_scroll_1&pgtype=article&campaign=3160529

GO DIDI

"PEACE"

..But will DIDI get some of the favor
👍️0
Zilla Zilla 2 years ago
Good call right back to new lows and overall market plunging and pink sheets won't be doing Didi any favors.
👍️0
DMOST DMOST 2 years ago
Didi’s Fate in Limbo As Officials Object to Proposed Penalty

In this article:

DIDI
-6.12%

(Bloomberg) -- Senior Chinese officials have pushed back on a set of proposed punishments for Didi Global Inc. submitted by the nation’s cybersecurity regulator, people familiar with the matter said, leaving the future of the troubled ride-hailing giant in limbo.

Didi has been in talks with the Cyberspace Administration of China about a fine and other penalties after proceeding with a U.S. initial public offering last June over the regulator’s objections, the people said. The agency had aimed to publish the results of that probe in April but central government officials told the CAC they’re not satisfied with the proposed punishments and asked for revisions, the people said. The officials felt the remedies were too lenient, one person said, asking not to be identified because the matter is private.

That’s why Didi suspended plans for a Hong Kong listing, the people said, adding that it’s uncertain when that dispute could be resolved.

The result is that Didi, once the most celebrated startup in China, faces yet more uncertainty as it prepares to depart New York bourses under orders from Beijing. The company, once worth about $80 billion, will likely see its stock traded over the counter on the so-called pink-sheets market, home to penny stocks and other riskier businesses. Didi said last week it hadn’t applied to move to another exchange, surprising investors who anticipated a smoother transition.

Didi’s shareholders -- which include marquee names from Fidelity Investments to Blackrock Inc. -- have so far refrained from public comment on the delisting. The Chinese company briefed several investors on the potential relegation of its stock and at least one of them was unhappy with the latest development, one of the people said. Some investors could be forced to sell because their mandates don’t allow them to hold unlisted shares. Japan’s SoftBank Group Corp., which can hold unlisted stock and plowed more than $12 billion into the company, has seen its 20% stake fall from a peak of about $16 billion to less than $2 billion.

Representatives for Didi and the CAC didn’t respond to requests for comment on the penalties. A Didi spokesperson previously referred Bloomberg to their April 16 statement, which stated the option of trading on the pink-sheet market.

Read More: Didi’s Move from NYSE to Hong Kong - What to Know: QuickTake

The settlement delay is another setback for Didi, the national champion that defeated Uber Technologies Inc. before becoming one of the biggest targets of a tech-sector crackdown. Days after its $4.4 billion IPO, the company was placed under a cybersecurity probe and its services were taken off the country’s app stores. The debut was so controversial it triggered an onslaught of regulatory actions constraining Chinese companies from raising capital overseas.

It’s unclear what measures the CAC recommended. The ride-hailing giant has explored several alternatives including hiving off data to a third-party Chinese firm and selling a stake to state-backed companies, Bloomberg News has reported. The China Securities Regulatory Commission said in a statement after last week’s announcement that Didi made the decision to delist based on the market and its own situation.

The lingering uncertainty around Didi’s fate is contributing to persistent questions over Beijing’s longer-term intentions for a giant internet industry it regards as having amassed too much wealth and power.

Shareholders will vote May 23 on Didi’s delisting plan, which is almost certain to pass should co-founders Cheng Wei and Jean Liu exercise their majority voting control. However, Didi said Saturday that owners of Class B shares have informed the company they will cast their ballot on a 1 vote-per-share basis.

Once delisted, the stock will then be traded as a pink-sheet for an indefinite period of time, said people familiar with the matter.

Although some non-American blue-chip names trade over the counter, pink sheets -- named for the traditional hue of the share slips -- are typically the province of highly speculative securities that won’t or don’t meet the stricter requirements of the main bourse. Examples include Luckin Coffee Inc., the once high-flying Chinese challenger to Starbucks that admitted to inflating sales.
https://finance.yahoo.com/news/didi-fate-limbo-officials-object-100633848.html

GO DIDI

"PEACE"

Pinksheet here we come.....
👍️0
DMOST DMOST 2 years ago
If You Invested $10,000 in DiDi Global in 2021, This Is How Much You Would Have Today

Key Points

DiDi Global has lost more than 85% of its value since its IPO.
The stock was crushed by regulatory headwinds.

It looks like a deep value play, but it's still a very risky stock.

NYSE: DIDI
DiDi Global Inc.
DiDi Global Inc. Stock Quote
Market Cap
$10B
Today's Change
(-5.52%) -$0.11
Current Price
$1.91
Price as of April 20, 2022, 4:11 p.m. ET

The Chinese ride-hailing giant has burned a lot of investors.

DiDi Global ( DIDI -5.52% ), China's largest ride-hailing company, went public on June 30, 2021, at $14 per share. But the stock now trades at about $2 -- so a $10,000 investment in its initial public offering (IPO) would only be worth $1,400 today. Let's revisit DiDi's precipitous decline and see if there's any hope left for the bulls.

Why did DiDi's stock collapse?

A few days after DiDi's public debut on the New York Stock Exchange (NYSE), the Cyberspace Administration of China (CAC) abruptly ordered the suspension of new user registrations for all 25 of its apps. Shortly afterward, all of DiDi's apps were removed from China's mobile app stores.

The CAC cited vague cybersecurity, data protection, and national security concerns as its main reasons for cracking down on DiDi, but the platform's existing users could still access their downloaded apps.

Meanwhile, China's antitrust agency, transportation ministry, and public security bureau co-drafted new guidelines that forced DiDi and other ride-hailing platforms to reduce their commissions, provide better wages for drivers, and limit their collection of personal data from passengers.

That one-two punch, which crippled DiDi's ability to gain new users while forcing it to increase its expenses, caused investors to head for the exits.

Last December, DiDi announced that it would delist its NYSE shares and pursue a new listing in Hong Kong. At the time, many investors assumed that meant the CAC would finally lift its restrictions on new user registrations and allow DiDi to relaunch its apps across China's mobile app stores.

But last month, DiDi suspended its plans for a Hong Kong listing after its apps failed to meet the CAC's data privacy and cybersecurity requirements again. On April 16, the company said it would not pursue any new public listings before it delisted its shares from the NYSE. However, it also said it would hold a shareholder vote on May 23 for those delisting plans.

Simply put, investors still don't know what will happen to DiDi. That's why it trades at just 0.4 times this year's sales. Uber Technologies and Lyft trade at 2.3 and 2.8 times this year's sales, respectively.
undefined Stock Quote

NYSE: DIDI
DiDi Global Inc.
Today's Change
(-5.52%) -$0.11
Current Price
$1.91

Key Data Points
Market Cap
$10B
Day's Range
$1.90 - $2.05
52wk Range
$1.71 - $18.01
Volume
24,076,133
Avg Vol
66,973,849
P/E (ttm)

Could DiDi be a deep value play?

DiDi is a very risky investment right now, but its underlying business remains stable even as regulators throttle its domestic growth. Its revenue rose 14% in 2019, dipped 8% in 2020 as the pandemic spread, but increased 23% to 173.8 billion yuan ($27.3 billion) in 2021.

Its "China mobility" (the ride-hailing segment) revenue, which accounted for 92% of its top line, rose 20% last year. However, its loss more than doubled on an adjusted earnings before interest, taxes, and amortization (EBITA) basis to 19.2 billion yuan ($3 billion), with the losses from its international and "other initiatives" segments wiping out the profits of its domestic business.

Analysts expect DiDi's revenue to rise 3% to 179.6 billion yuan ($28.2 billion) this year, even as it's barred from gaining new users or downloads in China, and for its EBITA loss to narrow to 10.5 billion yuan ($1.7 billion) as its reins in its expenses. However, the recent COVID-19 lockdowns across China could make it much tougher for DiDi to hit those targets.

But if China's regulators finally allow DiDi to relaunch its apps, its growth could accelerate significantly as the current lockdowns end. Furthermore, DiDi's recent decision to have investors vote on its "voluntary" delisting plans suggests it might still postpone (or completely cancel) that exit.

China's securities regulator also recently said DiDi made its delisting decision on its own accord, which suggests the government won't prevent the company from reversing its initial decision to leave the NYSE.

If any of those positive developments occur, DiDi's stock could potentially reverse a large portion of its post-IPO decline. However, the company could also still try to take itself private with a lowball offer and burn most investors who prematurely thought it was a deep value play. So for now, the risks still outweigh the rewards and make DiDi a very dangerous stock to own.
https://www.fool.com/investing/2022/04/20/if-you-invested-10000-in-didi-global-in-2021-this/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

GO DIDI

"PEACE"
👍️0
UpTickMeA$AP UpTickMeA$AP 2 years ago
As expected.. A total trashcan. Today's report is a joke. It's screams!!! Delist me!!!!

Watch all these Cayman islands VIE shell companies from China get delisted. It's coming. DIDI, BABA, etc..

All go bye-bye.
👍️0
IPO$ IPO$ 2 years ago
A Hong Kong listing could take years before the current shareholders can get liquidity. This is a real shame.
👍️0
Wayne R Wayne R 2 years ago
Financials out today appear to have been prepared by a 12 year old with no previous accounting knowledge.

JMO
👍️0
JohnCM JohnCM 2 years ago
👍️0
DMOST DMOST 2 years ago
Gap around $3.75....But all this is just pocket change....Until.

GO DIDI

"PEACE"
👍️0
JohnCM JohnCM 2 years ago
👍️0
DMOST DMOST 2 years ago
Alibaba, Didi Fuel $93 Billion Rally for Chinese Stocks in U.S.

In this article:

BABA
+6.62%
DIDI
+6.38%

(Bloomberg) -- Alibaba Group Holding Ltd. and Didi Global Inc. rallied for a second day, adding $93 billion in value to U.S. listed Chinese stocks as fears of potential delistings eased.

The Nasdaq Golden Dragon China Index jumped 7.4% Monday, adding to Friday’s climb after Beijing regulators published revised draft rules scrapping requirements that on-site inspections should be mainly conducted by Chinese regulatory agencies.

Alibaba rose 6.6% and Didi climbed 6.4%, while JD.com Inc. advanced 7.1%. Pinduoduo Inc., Bilibili Inc. and iQiyi Inc. were among the top gainers, climbing at least 16% each. The advance in American depositary receipts tracked a 5.4% gain in Hong Kong’s Hang Seng Tech Index, the sharpest in two weeks. China was closed for a holiday.

China Removes Key Hurdle to Allow U.S. Full Access to Audits

“For now, investors are erasing the regulatory risk premium which is helping both markets and sentiment recover,” said Olivier d’Assier, head of APAC applied research at Qontigo. While the regulatory risks is receding, there still leaves a lot of macro risk which is yet unknown, as well as geopolitics, he added.

Beijing’s move could potentially remove a key hurdle to U.S. regulators gaining full access to auditing reports for Chinese companies listed in New York, ending a long-running dispute over data sharing. Last week, Bloomberg News had reported that Beijing is drafting a framework that will allow a majority of Chinese firms to keep their listings.

“We believe this is an important step in clarifying China’s stance on the audit dispute,” Morgan Stanley equity strategists led by Laura Wang said in an April 3 note. “We maintain our view that the likelihood of a final agreement being reached over the ADR audit dispute is now higher.”

China Rule Change to Help Ease U.S. Delistings Risk: Street Wrap

While the latest statement appears to show Beijing is more constructive on this, some remain cautious until the final resolution comes through.

“I am expecting more twists going forward, as the U.S. and China go back and forth on this,” said Henry Guo, an analyst at M Science LLC. “The regulation overhang for Chinese ADRs should remain in the near future and investors are cautious about investing in them as regulation-related risks are totally out of their control.”

SEC chief last week dialed down speculation of an imminent deal with Chinese counterpart on the delisting issue.
https://finance.yahoo.com/news/alibaba-didi-fuel-80-billion-140202697.html

GO DIDI

"PEACE"
👍️0
DMOST DMOST 2 years ago
China to bring down audit barrier in long-running US listing row
Sat, April 2, 2022, 4:30 AM

China's securities regulator has proposed changes to key rules on Chinese companies listed abroad in a move that could ease a long-standing auditing dispute with the United States.

In revised draft rules released on Saturday, the China Securities Regulatory Commission (CSRC) withdrew a requirement that only Chinese regulators conduct on-site audit inspections of Chinese companies listed overseas.

The changes were made to "accommodate the new circumstances and developments concerning overseas securities listings and offerings" and Chinese regulators' "open attitude" in audit oversight cooperation, the commission said in a joint statement with various agencies including the Ministry of Finance.

"China remains committed to supporting eligible companies of all types list or offer securities in overseas markets," they said.

More than 200 mainland Chinese companies are listed on US exchanges.

In recent years, US regulators have increased scrutiny of the accounting standards of these companies amid allegations of ties to the military and use of forced labour in the Xinjiang Uygur autonomous region.

China has long denied US securities regulators the ability to inspect the financial audits of its US-listed companies, saying they contain state secrets.

The tensions culminated in 2019 with the US Holding Foreign Companies Accountable Act, which requires foreign companies listed in the US comply with audit inspection rules under the auspices of the Public Company Accounting Oversight Board (PCAOB) or face delisting within three years.

In the aftermath, US-listed Chinese companies were hit by bruising sell-offs.

In March, the Securities and Exchange Commission (SEC) identified 11 Chinese companies - including Baidu, Weibo and BeiGene and Yum China - liable under the law.

In the statement on Saturday, the CSRC said the proposed rules offered more guidance on protecting state secrets.

In practice, it is rare that companies need to provide documents that contain state secrets and sensitive information, according to the CSRC.

But should the situation arise, the burden of ensuring information security would fall on the Chinese companies, it said.

The amendments have been released for public feedback until April 17.

Louis Tse Ming-kwong, managing director at Wealthy Securities, said the proposed changes were a good start.

"It is a good beginning as China is willing to conform to US requirements to some degree, balancing the need for fundraising in overseas markets," Tse said.

"But it is not necessarily that bad times are over. We still need to see further blueprints or if this would satisfy US regulators."

SEC chairman Gary Gensler and CSRC chairman Yi Huiman have held three online meetings since August to discuss the prospect of cooperating on audit regulations, the commission said on Thursday.

It also said the Chinese securities regulator met representatives from the PCAOB, adding that communications were continuing.

Yet in the past week, US regulators have pushed back on speculation that the dispute was close to being resolved, demanding total compliance with US audit inspections.

Chinese authorities have ramped up efforts to bolster investor confidence. Last month, Vice-Premier Liu He vowed to keep capital markets stable, adding that talks between China and US on offshore listing issues saw progress and that Beijing supported overseas listings.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2022 South China Morning Post Publishers Ltd. All rights reserved.
https://www.yahoo.com/finance/news/china-bring-down-audit-barrier-093000921.html

GO DIDI

"PEACE"
👍️0
DMOST DMOST 2 years ago
Why Shares of Alibaba, DiDi Global, and Futu Are Rising
By Bram Berkowitz - Apr 1, 2022 at 1:01PM

Key Points

U.S. and Chinese financial regulators have long argued over the auditing practices of Chinese stocks listed on U.S. exchanges.
Chinese regulators said they are planning to make current financial statements of these companies available to U.S. regulators.

If reached, an agreement would prevent many Chinese stocks from being delisted from U.S. exchanges.

NYSE: BABA
Alibaba Group Holding Limited
Alibaba Group Holding Limited Stock Quote
Market Cap
$296B
Today's Change
(1.29%) $1.40
Current Price
$110.20
Price as of April 1, 2022, 8:00 p.m. ET

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More
Some good news came out today regarding the ongoing auditing dispute between U.S. and Chinese financial regulators.

What happened

Shares of Chinese stocks rose today on news that Chinese regulators may cooperate with U.S. financial regulators and allow them to audit the current financials of Chinese stocks listed on U.S. exchanges, potentially ending a feud that has lasted for decades.

Shares of DiDi Global ( DIDI 12.80% ) had risen roughly 9% and shares of Alibaba Group Holding ( BABA 1.29% ) traded nearly 3% higher as of 12:27 p.m. ET today. Shares of Futu Holdings ( FUTU 6.26% ) were up nearly 11.5% earlier in the day before giving back much of those gains, likely due to broader market trends.
undefined Stock Quote

NYSE: BABA
Alibaba Group Holding Limited
Today's Change
(1.29%) $1.40
Current Price
$110.20

Key Data Points
Market Cap
$296B
Day's Range
$109.75 - $118.95
52wk Range
$73.28 - $245.69
Volume
55,873,017
Avg Vol
37,794,725
P/E (ttm)
4.55

So what

U.S. regulators have long been frustrated with Chinese companies that trade on U.S. exchanges because they want access to audit their full and current financials. However, Chinese regulators have barred Chinese firms from sharing their working financials with foreign accountants due to national security concerns.

In 2020, U.S. lawmakers passed the Holding Foreign Companies Accountable Act (HFCAA), which said that if U.S. regulators could not review the financials of Chinese public companies for three consecutive years, those companies would be delisted. As many as 200 Chinese stocks could be delisted due to the HFCAA, according to the U.S. Securities and Exchange Commission (SEC). In recent weeks, the SEC has started naming specific Chinese companies that are in danger of being delisted. That growing list now includes Yum China Holdings, ACM Research, BeiGene, Zai Lab, Hutchmed, Weibo, Futu, Nocera, iQIYI, and CASI Pharmaceuticals.

After the SEC started naming specific companies, Chinese regulators came out in support of foreign-listed Chinese stocks, which have been hammered over the last year, and said they would work with U.S. regulators to sort the auditing dispute out. That sparked a big rally in Chinese stocks. Since, then, however, it's been a bit of a roller-coaster ride, with the SEC continuing to name specific Chinese stocks that face being delisted. U.S. regulators have also maintained that Chinese companies would have to be in full compliance with U.S. accounting and auditing laws, making an impending deal seem less likely.

But today, the conflict took an unexpected positive turn, with Bloomberg reporting that Chinese regulators are planning to make the financials of Chinese companies available to U.S. regulators. This may happen by the middle of the year. Bloomberg also reported that Chinese regulators are planning to design a system that allows most companies listed in the U.S. to remain listed. However, some Chinese companies with "sensitive data" may still end up being removed. Furthermore, CNBC reported that a statement it received from the Chinese Securities Regulatory Commission said the agency has told accounting firms it works with to be ready for audits with both sets of regulators.

This is obviously great news for Futu, one of the stocks specifically named by the SEC. I also think it's quite good for DiDi, which has had its plans to delist from the New York Stock Exchange (NYSE) and list its shares in Hong Kong shut down by Chinese regulators, so staying on the NYSE might be the ride-hailing company's best option right now.

Now what

This situation has been evolving by the day, so things could certainly change, but I don't think Chinese financial regulators have ever seemed so willing to work with the U.S., particularly as U.S. regulators take a hard line on the auditing issue.

I think China may see it's in its best interest to have some of its largest, most successful companies be known globally, as the country continues to be a hot spot for foreign investment. Overall, while things are unpredictable and near-term volatility is likely, I am getting more optimistic about a potential deal between U.S. and Chinese financial regulators, which bodes very well for these U.S.-listed Chinese stocks.
https://www.fool.com/investing/2022/04/01/why-shares-of-alibaba-didi-global-and-futu-are-ris/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

GO DIDI

"PEACE"
👍️0
DMOST DMOST 2 years ago
Chinese Stocks in the U.S. Surge as Delisting Worries Ease

In this article:

(Bloomberg) -- U.S.-listed Chinese stocks rallied on Friday after a Bloomberg News report that Beijing is preparing to give U.S. regulators full access to auditing reports for a majority of the 200-plus companies listed in New York as soon as mid-this year.

Didi Global Inc. led the advance in American depository receipts, rising 13%. E-commerce giant Alibaba Group Holding Ltd. climbed 1.3%, while JD.com Inc. gained 2.1% and Baidu Inc. jumped 6.6%. The Nasdaq Golden Dragon China Index rose 4.7%, just a day after locking in its worst start to a year since 2008.

“It’s a big game-changer,” said Matt Maley, chief market strategist at Miller Tabak + Co., cautioning that Chinese authorities will need to allow access. “It will cause a lot of bearish investors to reconsider their stance that China is ‘uninvestable.’”

China Securities Regulatory Commission and other national regulators are in the process of drafting a framework that will allow most Chinese companies to keep their listings, according to people familiar with the matter. Details are still under discussion and may change, the people said.

Such a plan could potentially alleviate concerns that the U.S. is moving closer to delisting Chinese companies, since the Securities and Exchange Commission started publishing a provisional list of firms running foul of requirements in early March. Baidu, Futu Holdings Ltd. and iQIYI Inc. were among five additions to SEC’s delisting watch list this week.

SEC Chair Gary Gensler said on Wednesday that Chinese authorities could face a “hard set of choices” to avoid security delistings, continuing to play down expectations of an imminent resolution to the audit dispute.

For investors, Friday’s report is just the latest twist in what has been a roller-coaster ride to begin the year. Realized volatility for the Nasdaq Golden Dragon China Index over the last 30 days has soared to its highest on record, surpassing its prior peak seen during the global financial crisis.

The gauge -- which tracks firms on American exchanges that conduct a majority of their business in China -- has surged about 43% from its lowest close in more than eight years last month. Still, U.S.-listed Chinese stocks may not be in the clear just yet.

“The probability of delisting has declined, which is why you see the stocks rebound,” according to Brendan Ahern, chief investment officer at Krane Funds Advisors LLC. That said, “the names won’t fully rebound until definitive resolution is found.”
https://finance.yahoo.com/news/didi-global-alibaba-surge-u-141020369.html

GO DIDI

"PEACE"
👍️0
make it happen make it happen 2 years ago
You think? With it delisting on NYSE and in China? I predict otc and fade. Also not listing on the Hong Kong exchange atm.

https://www-nytimes-com.cdn.ampproject.org/v/s/www.nytimes.com/2021/12/02/business/china-didi-delisting.amp.html?amp_gsa=1&_js_v=a9&usqp=mq331AQKKAFQArABIIACAw%3D%3D#amp_tf=From%20%251%24s&aoh=16488131179491&referrer=https%3A%2F%2Fwww.google.com&share=https%3A%2F%2Fwww.nytimes.com%2F2021%2F12%2F02%2Fbusiness%2Fchina-didi-delisting.html

https://www.reuters.com/markets/asia/didi-halt-hong-kong-listing-plans-bloomberg-news-2022-03-11/
👍️0
DMOST DMOST 2 years ago
Why Shares of JD.Com, DiDi Global, and Up Fintech Holding Are Falling Today
By Bram Berkowitz - Mar 31, 2022 at 1:34PM
Key Points

The SEC this week added Baidu, Futu Holdings Limited, Nocera, iQIYI, and CASI Pharmaceuticals to its growing list of Chinese stocks that face delisting.

U.S. regulators also appear to be taking a hard line over the auditing issue with China.

Motley Fool Issues Rare “All In” Buy Alert

NASDAQ: JD
JD.com, Inc.
JD.com, Inc. Stock Quote
Market Cap
$90B
Today's Change
(-5.89%) -$3.62
Current Price
$57.87
Price as of March 31, 2022, 8:00 p.m. ET

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More
The U.S. Securities and Exchange Commission listed more Chinese stocks trading on U.S. exchanges that could be delisted.

What happened

Shares of Chinese stocks listed on U.S. exchanges struggled today as the situation between U.S. and Chinese financial regulators continued to play out. Recently, the Securities and Exchange Commission (SEC) has added more Chinese stocks that face being delisted.

Shares of JD.com ( JD -5.89% ) had fallen nearly 6% as of 1:03 p.m. ET today. Shares of DiDi Global ( DIDI -14.97% ) had sunk more than 9% and shares of Up Fintech Holding ( TIGR -10.09% ) traded nearly 11% down.
undefined Stock Quote

NASDAQ: JD
JD.com, Inc.
Today's Change
(-5.89%) -$3.62
Current Price
$57.87

Key Data Points
Market Cap
$90B
Day's Range
$56.80 - $60.09
52wk Range
$41.56 - $92.69
Volume
19,529
Avg Vol
16,216,469
P/E (ttm)

So what

For decades now, U.S. and Chinese regulators have been at odds over the auditing of Chinese stocks that trade on U.S. exchanges. U.S. regulators want to fully review Chinese company financials like they do with U.S.-based stocks. However, Chinese regulators don't allow foreign accountants to review current Chinese company financials due to national security concerns.

The argument came to a boiling point in 2020 when U.S. lawmakers passed the Holding Foreign Companies Accountable Act (HFCAA), which would delist Chinese stocks if U.S. regulators can not review their financials for three consecutive years. Recently, U.S. regulators took more steps to uphold the law by specifically listing names of Chinese companies that face being delisted. The first five were Yum China Holdings, ACM Research, BeiGene, Zai Lab, and Hutchmed. Potentially 200 Chinese stocks could face delisting due to the HFCAA.

However, shortly after the SEC specifically named companies that face delisting, Chinese regulators surprised the market and voiced support for foreign-listed Chinese stocks. They even said they would work with U.S. regulators on a cooperation agreement to solve the long-standing auditing issue. Following this news, Chinese stocks soared and enjoyed their best day of trading in years.

Since then, the situation has shown that it may be more difficult to solve than initially believed. The SEC has added more Chinese companies that face delisting threats, including Weibo. This week, the SEC added Baidu, as well as Futu Holdings Limited, Nocera, iQIYI, and CASI Pharmaceuticals as potential delisting candidates.

"There have been thoughtful, respectful, productive conversations, but I don't know where this is going to end up," SEC Commissioner Gary Gensler said earlier this week, according to Bloomberg, referring to a potential agreement over the auditing issue. "It's up to the Chinese authorities, and it could be frankly a hard set of choices for them."

Similar to Futu, Up Fintech is an online brokerage, so investors may see the fact that Futu has now joined the list as a precursor of what's to come.

NASDAQ: TIGR
UP Fintech Holding Limited
Today's Change
(-10.09%) -$0.55
Current Price
$4.90

Key Data Points
Market Cap
$742M
Day's Range
$4.80 - $5.30
52wk Range
$2.68 - $29.93
Volume
96,719
Avg Vol
5,204,596
P/E (ttm)
49.04

DiDi is also in interesting shape because toward the end of 2021 the company had announced that it planned to delist from the New York Stock Exchange and list its shares in Hong Kong. But not long ago, Chinese regulators shut this plan down, at least for the time being, citing security and data concerns. Now, China's largest ride-hailing company may not have a lot of options if it were to delist from the New York Stock Exchange.
undefined Stock Quote

NYSE: DIDI
DiDi Global Inc.
Today's Change
(-14.97%) -$0.44
Current Price
$2.50

Key Data Points
Market Cap
$12B
Day's Range
$2.50 - $2.88
52wk Range
$1.71 - $18.01
Volume
355,540
Avg Vol
56,048,841
P/E (ttm)

Now what

The fact that Chinese regulators signaled support for foreign-listed Chinese stocks is certainly good news. But it's also clear that U.S. regulators have taken a hard line on their position, as they continue to name stocks that face delisting and say that Chinese companies will need to be in full compliance with U.S. auditing laws.

That may be a difficult pill for Chinese authorities to swallow, considering this issue has gone on for decades. While Chinese stocks have been hammered and there is upside, given their large market opportunities and if regulators come to terms on the auditing issue, I see these stocks as particularly risky trades right now because so much depends on regulators.
https://www.fool.com/investing/2022/03/31/why-shares-of-jdcom-didi-global-and-up-fintech-hol/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

GO DIDI

"PEACE"
👍️0
DMOST DMOST 2 years ago
Why Shares of DiDi Global, Alibaba, and JD.com Are Falling Today

Key Points

Last week, Chinese stocks listed on U.S. exchanges soared after Beijing signaled support.
Chinese government officials said they were working with the U.S. on a potential agreement over a longstanding accounting feud.
But a deal may not come as easy as some think.

The situation between U.S. and Chinese regulators over Chinese stocks listed on U.S. exchanges continues to evolve.

What happened

Shares of several Chinese stocks listed on U.S. stock exchanges are continuing their volatile ways as the situation between U.S. and Chinese regulators plays out.

Shares of the large Chinese ride-hailing company DiDi Global ( DIDI -13.95% ) traded nearly 10% lower as of 10:50 a.m. ET today. Shares of the large Chinese e-commerce players Alibaba Group Holding ( BABA -1.88% ) and JD.com ( JD -2.60% ) had fallen nearly 3% and 4%, respectively.

So what

U.S. and Chinese regulators have had a decades-long dispute over accounting practices of Chinese stocks listed on U.S. exchanges. U.S. financial regulators want complete access to audit the financials of Chinese companies that trade in the U.S., but the Chinese government doesn't allow foreign accountants to view the finances of Chinese companies due to national security concerns. In 2020, U.S. lawmakers passed a law called the Holding Foreign Companies Accountable Act (HFCAA), which essentially said Chinese companies would be delisted from U.S. exchanges if U.S. regulators could not properly audit their financials for three straight years.

Last week, Chinese government officials signaled support for U.S.-listed Chinese stocks and said they were working with U.S. regulators on a cooperation agreement. The news sent Chinese stocks soaring. Ever since, Chinese stocks have been up and down as the situation has evolved.

Yesterday, the Public Company Accounting Oversight Board (PCAOB), a nonprofit that Congress created in order to watch over public company auditing, said media reports regarding a forthcoming deal between U.S. and Chinese regulators were still "premature."

"If an agreement is reached, we will then proceed with our inspection and investigation activities to determine if the agreement operates as intended ... [but] an agreement without successful execution will not satisfy U.S. law," the PCAOB said, according to Reuters.

In another not-so-great development, the U.S. Securities and Exchange Commission (SEC) added the Chinese social media platform Weibo to its list of U.S.-listed Chinese stocks that could face being delisted for failure to comply with the HFCAA. Prior to the news of the potential cooperation agreement, the SEC listed five Chinese companies that faced delisting: Yum China Holdings, ACM Research, BeiGene, Zai Lab, and Hutchmed.

In December, the SEC said 273 companies faced potential delisting due to the HFCAA, and the regulator will likely name more.

For a beleaguered company like DiDi, a delisting could be particularly troublesome. DiDi had announced last December that it was planning to delist from the New York Stock Exchange (NYSE) and list in Hong Kong. But the Chinese government has now shut that plan down, citing data security concerns. The Chinese government has also suspended DiDi's apps from China's apps stores. While the future is uncertain, it may be better for the company to remain listed on the NYSE.

undefined Stock Quote

NYSE: DIDI
DiDi Global Inc.
Today's Change
(-13.95%) -$0.53
Current Price
$3.27

Key Data Points
Market Cap
$16B
Day's Range
$3.12 - $3.50
52wk Range
$1.71 - $18.01
Volume
275,083
Avg Vol
56,049,476
P/E (ttm)

Now what

Make no mistake, China announcing support for foreign-listed stocks is certainly a big deal, as can be seen in the surging stock prices recently. Still, Chinese regulators can be somewhat unpredictable and a deal hasn't been reached yet.

It also seems like U.S. regulators and the PCAOB are taking a hard line on having U.S. accountants review the financials of Chinese stocks, so it would appear that Beijing may need to make some concessions for this to work. The situation is up in the air, so trade with caution.

https://www.fool.com/investing/2022/03/25/why-shares-of-didi-global-alibaba-and-jdcom-are-fa/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
👍️0
DMOST DMOST 2 years ago
Yes, no $hit.....But why?

GO DIDI

"PEACE"
👍️0
IPO$ IPO$ 2 years ago
Down pre market.
👍️0
IPO$ IPO$ 2 years ago
Heavy volume this morning
👍️0
saigai saigai 2 years ago
its didi day buying the open for a few cents and try to recoup the divy drop on zim. good lucky to all
👍️0
restripe restripe 2 years ago
I posted some facts on that board and they kicked me off I don’t know why I guess they do not like Trump for some reason
👍️0
wEaReLeGiOn wEaReLeGiOn 2 years ago
I like Chinese food, therefore sure bet here =)

Sum yung guy deep-pow chicken.

Toothpicks aren't free

uh oh..

👍️0
DMOST DMOST 2 years ago
Why Shares of Alibaba, Didi, and TAL Education Group Are Rising Today


Chinese regulators earlier this week said they are working with U.S. regulators on a cooperation agreement over a longstanding auditing issue.

Chinese stocks continued their climb this week, sparked by Chinese regulators voicing support for Chinese stocks listed on foreign exchanges.

What happened

Shares of several large Chinese stocks traded on U.S. exchanges continued their ascent this week following positive news from Chinese regulators. In fact, Chinese stocks have had their best multiday rally in the 21st century this week.

Shares of e-commerce giant Alibaba ( BABA 8.25% ) traded about 5.5% higher today as of 10:20 a.m. EST. Meanwhile, shares of the ride-hailing company Didi Global ( DIDI 52.15% ) jumped more than 32%, and shares of TAL Education Group ( TAL 16.00% ) traded more than 16% higher.

So what

After what has been a brutal year for Chinese stocks listed on U.S. exchanges, things looked as if they were getting worse last week when the U.S. Securities and Exchange Commission named five Chinese stocks that could possibly get delisted. The issue revolves around a decades-long feud between U.S. and Chinese regulators because Chinese companies are not allowed to have their active financial documents reviewed by U.S.-based accountants. Meanwhile, U.S. regulators passed a law in 2020 that says that companies that aren't audited by regulators for three years in a row can't trade on U.S. exchanges.

Chinese stocks have been largely soaring all week after the Chinese government came out in support of Chinese stocks listed abroad and said it plans to ease some of the restrictive policies it has put in place over the past year and work with U.S. regulators to find a resolution on the audit issue.

The news has been met with a positive outlook from investors and analysts. Earlier this week, analysts at Credit Suisse upgraded its rating on Chinese stocks to overweight.

"We think that Chinese equities offer attractive upside potential, with valuations still depressed. Efforts to contain the current COVID-19 outbreak are likely to have a more limited impact than in 2020 and 2021," Credit Suisse said in a research note.

Thomas Hayes, chairman of Great Hill Capital, told Yahoo! Finance earlier this week that he thinks the returns in the sector are going to be "spectacular" over the next eight to 12 months and that he is particularly focused on Alibaba.
undefined Stock Quote

Shares of e-commerce giant Alibaba ( BABA 8.25% ) traded about 5.5% higher today as of 10:20 a.m. EST. Meanwhile, shares of the ride-hailing company Didi Global ( DIDI 52.15% ) jumped more than 32%, and shares of TAL Education Group ( TAL 16.00% ) traded more than 16% higher.
(8.25%) $8.28
Current Price
$108.65

Key Data Points
Market Cap
$270B
Day's Range
$99.60 - $109.19
52wk Range
$73.28 - $245.69
Volume
40,566,590
Avg Vol
29,270,277
P/E (ttm)
4.14

"The only two things holding these companies back were ... the tech crackdown over the summer, in earnest, and then the delisting risk," Hayes said. He added, "The businesses were growing despite the regulatory crackdowns, despite the zero-COVID shutdowns."

Didi is in a particularly interesting spot right now. Last week, the company, which had previously announced plans to leave the New York Stock Exchange (NYSE), said that it would delay its plans to list shares in Hong Kong, sending its stock down 44%. The Chinese government reportedly told Didi that its plans for data security were not in line with regulations. Chinese regulators have been a real problem for the company, suspending Didi apps from app stores in the country. However, with a potential cooperation agreement in the works between Washington and Beijing, investors might be hopeful that Didi will be able to continue trading on the NYSE.
undefined Stock Quote

NYSE: DIDI
DiDi Global Inc.
Today's Change
(52.15%) $1.33
Current Price
$3.90

Key Data Points
Market Cap
$12B
Day's Range
$2.56 - $4.09
52wk Range
$1.71 - $18.01
Volume
159,171,943
Avg Vol
37,308,919
P/E (ttm)
Now what

A cooperation agreement between the two governments would be great, but there is still the possibility it won't come to fruition.

The Public Company Accountability Oversight Board, one of the main organizations leading the charge on delisting noncompliant Chinese stocks, said this week that while it is seeking a resolution, regulators must still have the same access to Chinese financials that they get from other foreign companies trading on U.S. exchanges. There is no certainty that Chinese regulators will want to grant this full access.

If a resolution is reached, that would be great for investors because they could then focus more on the fundamentals of individual Chinese companies as opposed to what regulators are doing. But understand that there is still a chance it won't happen, and always expect more volatility with Chinese stocks than in other sectors of the market.
https://www.fool.com/investing/2022/03/18/why-shares-of-alibaba-didi-and-tal-education-group/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

GO DIDI

"PEACE"
👍️0
DMOST DMOST 2 years ago
Global Exodus From Chinese Markets Prompts Xi to Change Tack[/b

(Bloomberg) -- It took one of the biggest stock-market routs in Chinese history, but President Xi Jinping may finally be heeding the concerns of international investors.

A sweeping set of promises this week from Xi’s government to make regulation more transparent and predictable -- as well as a commitment to overseas markets including Hong Kong -- suggests authorities are appealing to investors abroad. The ruling Communist Party is seeking to regain the trust of international funds and the global business community after the country was lumped in with Russia as an “uninvestable” destination.

China has more overtly distanced itself from Russia over the past week, saying it wants to avoid being impacted by U.S. sanctions and promising to “never attack” Ukraine. Xi is set to speak with U.S. President Joe Biden on Friday morning in Washington for the first time since Russia’s invasion.

Xi’s shift contrasts with the unbending strategy of his friend President Vladimir Putin, despite global sanctions decimating Russia’s economy. While China still needs to follow through with this week’s pledges, the rhetoric has helped reduce turmoil in the nation’s financial markets. A gauge of Chinese stocks in Hong Kong rebounded at the fastest pace since the 1998 Asian financial crisis.

“The market was in freefall -- a clear signal was needed from a senior level to clear the air,” said Victor Shih, an associate professor at the University of California San Diego who researches elite Chinese politics. “I think unclear and even deleterious policy conditions were beginning to create an all-out panic.”

In the latest potential shift, Xi pledged at a Politburo meeting to limit the economic impact of the country’s Covid-Zero policy, the first time he has done so during the pandemic.

Hong Kong’s leader Carrie Lam on Thursday promised a review of Covid-fighting measures that have spurred a growing exodus from the business community. That came a month after Xi told local officials bringing the omicron outbreak under control was “a mission that overrides everything.”

Among other notable developments this week, China’s securities watchdog is considering giving U.S. regulators access to company audits as soon as this year, people familiar with the matter said. This would be Beijing’s biggest concession since Chinese firms first listed in the U.S. more than two decades ago, and may help ease concern about forced delistings.

The State Council said a crackdown on internet platform companies would be completed “as soon as possible.” Increased regulation helped wipe as much as $661 billion off Alibaba Group Holding Ltd.’s shares alone since their 2020 peak.

The Finance Ministry said it won’t expand a property tax trial this year -- a plan that had been floated in October. China’s cabinet said it would resolve risks around property developers. A liquidity crisis for builders such as China Evergrande Group has weighed on the nation’s property, stock and credit markets for months. Previously, officials described the collapsing value of such firms as a market event which wouldn’t necessitate government intervention.

Xi’s government had until now displayed little concern for the rout in Chinese markets. State-directed campaigns like “common prosperity” limited private sector-growth and dragged the MSCI China Index of stocks down 22% last year -- the biggest underperformance versus global shares since 1998. Investors in Chinese junk dollar bonds suffered their worst relative returns in more than a decade.

But with Xi set to seek a third term as president in a twice-decade leadership reshuffle later this year, the Communist Party is prioritizing stability above all else.

The need for the government to act had been growing more urgent. Global confidence in Chinese financial markets was by some metrics the weakest since the financial crisis in 2008, with stocks cratering, credit plunging and record outflows from government bonds undermining the currency’s strength. Hong Kong’s reputation as an international finance hub has been called into question, after two years of closed borders spurred at least tens of thousands of residents to abandon the city.

China’s worst Covid outbreak since Wuhan and Putin’s invasion of Ukraine pose new and unpredictable threats to China’s already slowing economy. Authorities risk a downward spiral in their bursting of a property-market bubble, with the largest developers suffering a 43% year-on-year decline in home sales in the first two months.

There’s still plenty that can go wrong for investors. China’s closeness with Russia puts it at the center of increasingly fraught geopolitical tensions. A potential overhaul of Tencent Holdings Ltd.’s payments business and Didi Global Inc.’s delayed Hong Kong listing shows regulators are unlikely to go soft on Big Tech.

The central bank’s decision this week to refrain from cutting interest rates served as a reminder that monetary policy will remain prudent. Bulls got burned so many times in the past year that few are convinced the worst is finally over. Markets remain volatile, with the Hang Seng China gauge falling as much as 3.6% on Friday before recovering.

Xi’s government has faced collapsing investor confidence before. Heavy-handed intervention in the domestic stock market in 2015 after a bubble burst drew criticism from global funds, who said officials were turning their backs on free-market reforms. A messy devaluation of the yuan the same year spurred capital outflows and raised questions over the competence of China’s oversight of financial markets. In 2018, the CSI 300 Index lost about a quarter of its value in a rout triggered by the Sino-U.S. trade war.

Yet each time Xi’s government pushed ahead with plans to further open up China’s capital markets and attract foreign funds. The country’s domestic shares were added to MSCI indexes in 2018, and bonds included in global benchmarks from the following year.

Soon, foreign investors couldn’t get enough. Between the start of 2019 and the end of 2021, overseas holdings of local stocks increased by more than 242% to 3.9 trillion yuan ($614 billion). Inflows into the nation’s bond market rose by 129% to 4.1 trillion yuan.

Western capital and technology are essential to China, despite recent efforts to make the country more self-sufficient. Foreign direct investment topped 1 trillion yuan last year, with about a third going into high-tech sectors, Chinese Commerce Minister Wang Wentao said this month.

The need to ensure global investors are on China’s side is unlikely to end any time soon.

“China can not develop in isolation of the world and nor can the world develop without China,” Vice President Wang Qishan said in a speech at the Bloomberg New Economy Forum in November. “China will keep its arms wide open, provide more market investment and growth opportunities to the world.”
https://finance.yahoo.com/news/global-exodus-chinese-markets-prompts-074623911.html

GO DIDI

"PEACE"
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UpTickMeA$AP UpTickMeA$AP 2 years ago
Lipstick on a pig. Its short lived. Take the pop, and Run.
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DMOST DMOST 2 years ago
China Makes Strong Vow to Ease Crackdowns After Market Turmoil

In this article:

(Bloomberg) -- China made a strong push to stabilize battered financial markets, promising to ease a regulatory crackdown, support property and technology companies and stimulate the economy.

Xi Spurs Frantic Stock Buying With Lifeline for China Market

The government should “actively introduce policies that benefit markets,” according to a meeting of China’s top financial policy committee led by Vice Premier Liu He, the country’s top economic official. That vow to take investors interests into account comes after a sell-off in domestic shares due to fears over growth risks and tough regulation of real estate and internet companies.

The meeting offered investors re-assurance that a sweeping crackdown on internet companies was nearing its end and that the government would prevent a disorderly collapse in the property market. China’s banking regulator said after the meeting that it would support insurance companies to increase investment in stock markets.

Stocks surged after the announcements. The Hang Seng China Enterprises Index jumped 13% at the close in Hong Kong, the most since 2008, recouping nearly half of this year’s losses. The CSI 300 Index of mainland shares climbed 4.3%.

“The statement addressed so many issues on various fronts, which is really rare,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc. “Selloffs tended to be self-fulfilling partly because of the lack of response from the government,” and one aim of the government is probably to break that inertia and stabilize market expectations, he said.

The statement signals an adjustment after months in which Chinese capital markets were battered by government policies ranging from a squeeze on financing for property developers to a sweeping regulatory campaign aimed at internet giants like Alibaba Group Holding and Tencent Holdings. The sell-off deepened in recent days, as rising energy prices caused by Russia’s invasion of Ukraine and a surge in Chinese coronavirus cases called into question Beijing’s ability to meet its economic growth target.

The Financial Stability and Development Committee meeting concluded there is a need to “boost the economy,” in the first quarter and promised investors relief on several regulatory fronts. Monetary policy will be proactive in this quarter and new loans will grow appropriately, it added.

Fed Hike

Echoing moves in 2018, the comments were followed quickly by statements from the central bank, banking watchdog and currency market regulator pledging to implement the policies. Xinhua News Agency separately cited an unidentified Finance Ministry official saying China won’t expand a trial on property taxes, removing another concern for investors.

The flurry of statements came shortly before an expected interest rate hike by the Federal Reserve, which Chinese officials have said risks fueling capital outflows. Further monetary easing by China at the same time as the Fed is tightening could spur those outflows but that is a risk policymakers may have to take to support the domestic economy.

Wednesday’s announcement offered the strongest statement yet that Beijing is loosening its grip on internet platforms, saying that efforts to “rectify” internet platform companies should be completed “as soon as possible.” It also promised investors more policy stability, after a year when markets were repeatedly surprised by sudden announcements on regulatory reform.

A series of policy moves in the past year taking aim at some of the country’s most valuable companies have battered investors, with Beijing warning that platform operators may abuse their power and undermine competition and that real-estate giants were destabilizing the economy.

In particular, regulators took issue with highly-leveraged real-estate companies like China Evergrande, e-commerce leader Alibaba Group Holding Ltd., which eventually paid a record fine, and food-delivery giant Meituan, which was forced to lower the fees that it charges restaurants for delivery and improve the treatment of its drivers. China’s private tutoring industry was largely shut down as part of a drive to reduce education costs.

“Any policy that has a significant impact on capital markets should be co-ordinated with financial management departments in advance to maintain the stability and consistency of policy expectations,” the financial committee meeting concluded, according to a state-media report.

On the deep slump in China’s housing market which began last year and has pushed large property developers close to collapse, the statement called for the introduction of an effective plan to prevent and resolve risks around the developers, as well as policies to help the industry transform to a “new development model.”

China’s banking and insurance regulator said in a statement following the meeting that it would guide trust, wealth management and insurance companies to stabilize capital markets, supports insurance companies to boost stock investment in high-quality companies and help property developers acquire real-estate projects from other developers experiencing financial difficulty.

Since last week Chinese stocks listed in the U.S. had sold-off after Washington raised the stakes in a festering dispute over auditing standards by raising the prospect that some Chinese companies would be delisted. The statement promised that China has achieved positive progress in talks about Chinese companies listed in U.S. markets, adding that both sides are working to formulate a detailed cooperation plan.

China’s yuan rose by as much as 0.43% to 6.3421 in onshore trading following the government’s statements, paring most of its loss over the past two days. The news is helping the yuan as capital outflows seen in March may come to a halt if losses in China’s equity market end, says Alvin T. Tan, head of Asia FX strategy at Royal Bank of Canada.

Growth Target

At the annual parliamentary meeting earlier this month, Beijing signaled that it was putting some long-term reforms on hold to focus on economic growth. Stabilizing the economy is a political imperative for Beijing ahead of a ruling Communist Party meeting in the fall, where President Xi Jinping is expected to seek a precedent-defying third term as party leader.

Policy makers said this year’s ambitious economic growth target of around 5.5% would be achieved mainly through looser fiscal policy, with officials remaining hawkish about the property market and debt growth.

“There was fear that Beijing doesn’t care much about financial markets, and this meeting shows that isn’t the case. It looks serious,” said Chen Long, an economist at Beijing-based consultancy Plenum. “But they have to do things quickly. If nothing happens in the next one or two weeks, markets will begin to think this is fake”.

The government statements did not mention Russia’s invasion of Ukraine, which has fueled a spike in oil prices and fears among investors that Chinese companies might be subject to sanctions. Coronavirus controls should be co-ordinated with economic development, the meeting said, reiterating official statements that China’s “dynamic zero” Covid policy will be tweaked to prevent business closures, even as the nation struggles to contain the largest outbreak in two years.

Authorities have made some changes to that approach in recent days, allowing the use of rapid tests to confirm cases and saying that patients with mild or no symptoms can quarantine in designated facilities instead of being moved to hospitals.

Its not the first time Liu He has tried to calm investor fears following a market sell-off. In 2018 he gave an interview with state media saying Beijing valued the stock market, which helped calm an equity sell-off. However, the statement didn’t lead to any large-scale stimulus.

Other points from the financial committee meeting:

Regulation of internet platform companies should be “standardized, transparent and predictable”

Financial institutions should “consider the big picture” and firmly support the development of the real economy

Long-term institutional investors are welcome to increase shareholdings in Chinese companies

Beijing and Hong Kong should strengthen communication over the stability of Hong Kong’s financial markets

Continuing economic development is the first priority of the Chinese Communist party

The economy should operate in a reasonable range and the operation of capital markets should remain stable

(Updates with property tax.)

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©2022 Bloomberg L.P.
https://finance.yahoo.com/news/china-vows-keep-markets-stable-053034834.html

GO DIDI

"PEACE"
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JohnCM JohnCM 2 years ago
BABA!!
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DMOST DMOST 2 years ago
...And with a premarket rising price comes this hit piece?

7 Red Flags for DiDi Global's Future
The Chinese ride-hailing giant faces serious challenges.
Leo Sun
(TMFSunLion)
Mar 16, 2022 at 7:35AM
Author Bio


Key Points

DiDi burned a lot of investors after its disastrous IPO.
The suspension of its Chinese apps, delisting threats, government pressure, and widening losses have all crushed the stock.
DiDi’s stock looks dirt cheap, but it’s a deep value trap.

Motley Fool Issues Rare “All In” Buy Alert

DiDi Global (NYSE:DIDI) was one of the worst-performing IPOs of 2021. China's top ride-hailing company went public at $14 per share last June, and its stock rose to about $18 by the end of that month. But that turned out to be DiDi's all-time high.

A series of unfortunate events subsequently occurred, and DiDi's stock price plunged to less than $2 -- which reduced its market cap from nearly $80 billion to about $8.5 billion. Let's review the seven red flags that caused investors to dump DiDi, and why this beaten-down stock still isn't a great value at 0.3 times this year's sales.
A passenger in a car checks a phone.

Image source: Getty Images.
1. The suspension of its apps in China

The first red flag appeared just a few days after its public debut. Citing vague cybersecurity and data privacy issues, China's regulators abruptly forced the country's app stores to suspend all of DiDi's apps.

DiDi's existing users could continue using the app, but that suspension -- which hasn't ended yet -- has hindered its ability to gain new users in China.
2. A costly overseas expansion

DiDi has been expanding its overseas business, which primarily operates in Europe and Latin America, to reduce its dependence on China.

DiDi's international revenue rose 57% year over year to 2.58 billion yuan ($400 million) in the first nine months of 2021, but the segment's loss widened from 2.02 billion yuan to 3.99 billion yuan ($618 million) on an adjusted earnings before interest, taxes, and amortization (EBITA) basis.
3. Being forced to take more losses in Russia

In late February, DiDi announced it would exit Russia and Kazakhstan to narrow those losses. However, it abruptly walked back its plans to exit Russia -- presumably because Beijing opposes the economic sanctions that were levied against the country in response to its invasion of Ukraine.

DiDi didn't disclose exactly how much money it was losing in Russia, but being forced to stay in a market that is likely unprofitable highlights its painful subservience to the Chinese government. Investors should recall that Uber Technologies (NYSE:UBER) also left Russia last December by selling its stake in a ride-hailing joint venture with Yandex (NASDAQ:YNDX).
4. New regulations for ride-hailing services

China's regulators also recently drafted new guidelines that will force DiDi and its competitors to reduce their commissions, provide better wages and benefits for their drivers, and limit their usage of personal data. Those requests could all cause DiDi's operating losses to soar.

DiDi's net loss already widened significantly year over year, from 3.38 billion yuan to 49.16 billion yuan ($7.63 billion), in the first nine months of 2021.
5. Even more macro headwinds

Even if DiDi complies with those new rules and the government allows it to relaunch its apps, it will still face major macro headwinds this year.

Rising gas prices could make it difficult for its drivers to turn a profit on each ride, even if DiDi raises its wages. It can raise its fees with gas surcharges, as Uber and Lyft (NASDAQ:LYFT) have recently done, but doing so could alienate its potential passengers.

The recent resurgence of COVID-19 cases in China -- which just hit their highest levels since 2020 -- has also resulted in new lockdowns. DiDi's growth decelerated during the onset of the pandemic, and it will likely suffer a similar slowdown this year if those cases aren't quickly contained.
6. Its imminent delisting from the NYSE

Last December, DiDi said it would delist its shares from the New York Stock Exchange (NYSE) and pursue a new listing in Hong Kong. At the time, it told investors they could exchange their ADR shares for HK-listed ones.

That decision wasn't surprising, since the U.S. Securities and Exchange Commission (SEC) already plans to delist U.S.-listed foreign stocks -- primarily Chinese ones -- that don't comply with tighter auditing rules soon.
7. An uncertain future in Hong Kong

Even after DiDi announced its delisting plans, some investors still bought the stock as a potential turnaround play. They likely believed DiDi would relaunch its apps in China ahead of the Hong Kong IPO, and that its shares would rally after overcoming its app suspension and delisting threats.

But earlier this month, DiDi suddenly suspended its plans for a Hong Kong listing. The Cyberspace Administration of China reportedly told DiDi its data security measures were still inadequate, and that its apps would remain suspended from app stores. With that escape hatch now locked, it's unclear if DiDi will still delist its NYSE shares -- which exposes it to a forced delisting (and possible liquidation) if it doesn't comply with the new SEC rules.
DiDi isn't a deep value play

DiDi stock might look tempting when compared to Uber and Lyft, which trade at two and three times this year's sales, respectively. But DiDi is also dirt cheap because its main apps are still suspended, it's being squeezed by government regulators, and its shares could be delisted soon.

Even if DiDi overcomes all those existential challenges, it will still need to deal with the margin-crushing pressure of new labor regulations, higher fuel costs, and its unprofitable overseas expansion. Investors should stay far away from this struggling company and stick with safer tech stocks instead.
https://www.fool.com/investing/2022/03/16/7-red-flags-for-didi-global-future/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

GO DIDI

"PEACE"

Most be caught in a short position, this Author...
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DMOST DMOST 2 years ago
Stocks Surge as China Pledge Revives Risk Appetite: Markets Wrap

(Bloomberg) -- Stocks surged Wednesday and U.S. futures climbed as China’s vow to stabilize battered markets lifted sentiment after weeks of worries about war and high inflation. Treasuries were steady and the dollar slipped ahead of the Federal Reserve rates decision.

The Stoxx Europe 600 index jumped as much as 2.3%, with technology shares leading the advance as Prosus NV rebounded 20% from a record low. Contracts on the tech-heavy Nasdaq 100 climbed 1.8% while those on the S%P 500 crested 1%. U.S.-listed Chinese stocks soared, with Alibaba Group Holding Ltd. and Baidu Inc. both up at least 20% in premarket trading, while Didi Global Inc. jumped more than 40%.

An Asia-Pacific share gauge advanced the most since 2020, a measure tracking mainland companies listed in Hong Kong posted the biggest gain since the global financial crisis and a Chinese tech index added a record 20%.

China vowed policies to boost financial markets and spur economic growth as it attempted to ease fears over challenges related to the ailing property sector, overseas listings and a clampdown on internet firms. Equities in China and Hong Kong had been under pressure -- shedding about $1.5 trillion over the first two days this week -- in part on speculation that Beijing’s ties with Russia raise the risk of a U.S. backlash.

“The market was indeed oversold, irrational, in the dramatic rout, so real money is back doing bottom fishing,” said Castor Pang, head of research at Core Pacific Yamaichi.

West Texas Intermediate crude oil advanced, while staying below $100 a barrel. The International Energy Agency said Wednesday that Russia’s oil output may drop by about a quarter next month. Treasuries pared declines that had pushed 10-year and 30-year yields to the highest since 2019 ahead of the Fed decision later Wednesday.

A quarter-point Fed rate increase, the first since 2018, to fight high inflation is widely anticipated but there’s less certainty beyond that. While markets expect a total of seven such moves this year, policy makers also have to factor in growth risks emanating from Russia’s invasion of Ukraine.

“We will be closely watching the Fed’s dot plot, which we expect to signal five or six interest-rate hikes this year, more than December’s projections but in line with market expectations,” wrote Lauren Goodwin, portfolio strategist at New York Life Investments. “A dot plot projecting more hiking would likely be a hawkish signal and could result in an earlier yield curve inversion.”

In the latest developments from the war, Ukraine and Russia are due to resume talks Wednesday. A key adviser to Ukrainian President Volodymyr Zelenskiy called the negotiations “difficult” but said there is room for compromise. In Russia, President Vladimir Putin said Ukraine’s leadership was not “serious” about resolving the conflict.

Russia has begun the process of paying $117 million in interest due Wednesday on dollar bonds. The country would be in default if it doesn’t pay the coupons in U.S. currency within a 30-day grace period, according to credit assessor Fitch Ratings. The ruble strengthened in Moscow trading.

Meanwhile, yields on German bunds rose after the cabinet approved additional borrowing of at least 200 billion euros ($220 billion) this year to finance a fund to modernize the military alongside already-planned debt for climate protection and other initiatives.
https://finance.yahoo.com/news/asia-boost-easing-china-rout-222756209.html

GO DIDI

"PEACE"
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UpTickMeA$AP UpTickMeA$AP 2 years ago
Looks like china is going to pump funds into chinese companies listed in china and the U.S.

Looks like chinese stocks will get a big lift today.


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IPO$ IPO$ 2 years ago
Yes. Chinese government needs to relax the rules a bit.
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