Chinese Didi Seeking to Delist in New York

Chinese tech stocks popular among US investors have fallen amid the country’s regulatory crackdown on technology firms.

Wall Street Journal has explained some of the new risks investors face when buying shares of companies like Didi or Tencent. Investors punished shares of Chinese companies traded in the US on Friday.

Didi Global Inc. searched for ways to back out of its New York stock listing months after the initial public offering drew Beijing’s anger.

The Chinese ride-hailing company’s decision to delist its American depositary shares from the New York Stock Exchange and pursue a listing in Hong Kong marked a new stage in the decoupling of Chinese companies from US markets.