Beijing’s Blocking Of Didi App Sends Peers Tumbling In Hong Kong

by finance.yahoo.com posted 3weeks ago 4 views
(Bloomberg) -- Shares of Chinese technology companies slid in Hong Kong as investors stepped back to gauge the impact from Beijing’s move to block ride-hailing giant Didi Chuxing from app stores due to data security issues. Tencent Holdings Ltd., which has a stake in Didi, slumped as much as 4.2% in Hong Kong to erase its year-to-date gain. Meituan, ordered by China’s antitrust watchdog to rectify practices in May, lost as much as 5.9%, while the Hang Seng Tech Index slid as much as 2.4% to its lowest level since May 17.

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