Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

Global stocks wobble as Didi delisting revives U.S.-China worries

Added 12-02-21 10:04:02pm EST - “Stocks fell on Friday after Chinese ride-hailing giant Didi said it would delist in New York, renewing concern about U.S.-China tensions and tech regulation, while oil headed for a sixth consecutive weekly drop on Omicron and rate…” - News.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From News.yahoo.com: “Global stocks wobble as Didi delisting revives U.S.-China worries”. Below is an excerpt from the article.

SYDNEY (Reuters) - Stocks fell on Friday after Chinese ride-hailing giant Didi said it would delist in New York, renewing concern about U.S.-China tensions and tech regulation, while oil headed for a sixth consecutive weekly drop on Omicron and rate hike worries.

S&P 500 futures fell about 0.5%. Hong Kong's Hang Seng dropped 1.3%, dragged by big tech names. MSCI's index of Asia shares outside Japan fell 0.7%.

The risk-sensitive Australian dollar fell 0.3% and at just below 71 cents is close to a one-year low.

Didi ran afoul of Chinese regulators by pushing ahead with its $4.4 billion U.S. IPO in July and said on Weibo it was looking to move its listing to Hong Kong.

"Delistings starting to happen gives some jitters over the uncertainty as to how this impacts on the broader U.S.-China picture," said Bank of Singapore analyst Moh Siong Sim.

Read more...

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

Comment Box is loading comments...

CLICK TO SHARE

BACK TO THE HOME-PAGE