Nio, Alibaba lead losses for U.S.-listed stocks of Chinese companies after Didi delisting news

U.S.-listed shares of major Chinese companies, including electric-car maker Nio Inc. and e-commerce giant Alibaba Group Holding Inc., tanked on Friday following news that ride-sharing company Didi Global Inc. plans to delist from the New York Stock Exchange.

American depositary receipts of Nio Inc. NIO, -11.19%, which earlier this week reported rising November sales, were off 12% in late trading Friday, poised to end the week off more than 20%. Li Auto Inc. LI, -15.95%, another Chinese EV maker that reported November sales this week, fell 16%, putting it on track for weekly losses of around 13%.

View Article Origin Here