U.S.-listed Chinese firms sink on renewed fears of govt crackdown

DouYu International Holdings

19/07/2021 10:18

** U.S.-listed Chinese stocks drop in premarket trade on
renewed fears of anti-monopoly action against major technology
firms
    ** Alibaba Holding  BABA.N  and Baidu  BIDU.O , the largest
U.S.-listed Chinese tech companies and the most susceptible to
government action, drop 2.1% each  
    ** Shanghai court posted a list of "typical unfair
competition cases" involving companies including Tencent
 0700.HK  , BIDU, and BABA's Alipay on its official WeChat
account over the weekend  urn:newsml:reuters.com:*:nL1N2OV02T
    ** BIDU, BABA and Tencent, the three largest listed Chinese
tech firms, sink in Hong Kong trade as well  .SS 
    ** Livestreaming firms Huya Inc  HUYA.N  and Douyu
International  DOYU.O  fall more than 3% each, while social
media platform Weibo Corp  WB.O  drops 1.3%
    ** Ridesharing app Didi Global  DIDI.N , which was taken
down in China less than a week after its IPO, falls 2.8%;
Electric car makers NIO Inc  NIO.N  and Xpeng Inc  XPEV.N  fall
2.7% and 2.9%, respectively


 (Reporting by Ambar Warrick)
 ((Ambar.Warrick@thomsonreuters.com; +91-80-6182-2837;))