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BUZZ Didi shares fall, taking China ETFs, ADRs along with them – Reuters

** Chinese ride-hailing giant Didi Global Inc’s shares fall 13.3%, following plans to delist from the NYSE

** Trader says risk of delisting could trigger cover trades as short sellers may seek to close positions

** E-commerce giants Alibaba and JD.com and online discount retailer Vipshop (VIPS.N) fall 8% each

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** Other Chinese ADRs like mobile game publisher Bilibili , online education cos New Orient Education and TAL Education (TAL.N) and EV maker Nio (NIO.N) down 6.7% to 8%

** Baidu , China’s closest equivalent to Google, and Tencent Music (TME.N) down 8.9% and 12.4%, respectively

** « Chinese ADRs face increasing regulatory challenges from both U.S. and Chinese authorities. For most companies, it will be like walking on eggshells trying to please both sides. Delisting will only make things simpler, » said Wang Qi, CEO at MegaTrust Investment read more

** Invesco China Technology ETF at its lowest since June 2020 and KraneShares CSI China Internet ETF tracking its lowest since March 2020

** Loss in China tech shares caps a forgetful year for sector-focused ETFs

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Reporting by Saikat Chatterjee and Bansari Mayur Kamdar

Our Standards: The Thomson Reuters Trust Principles.