A logo on the Didi Global Inc. headquarters in Beijing, China, on Monday, July 5, 2021. China … [+]
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Shares of Chinese tech companies listed in the U.S. began to stabilize in aftermarket trading this evening after a Beijing cybersecurity probe triggered losses that wiped out tens of billions of dollars of wealth on Tuesday.
Money-losing ride-sharing app DiDi Global, which had just gone public last week, led the way with a 19% plunge that knocked the company below its IPO price and its president Jean Liu out of the ranks of the world’s billionaires. Shares were down 0.9% in aftermarket trading. Among the two other businesses in regulators’ sights –…