SOURCE / COMPANIES
Updates: US shares of Chinese ride-hailing giant Didi plunge 24% under cybersecurity reviews
Published: Jul 06, 2021 05:25 PM Updated: Jul 06, 2021 11:12 PM
A man walks near the New York Stock Exchange (NYSE) on August 31, 2020 at Wall Street in New York City.Photo: CFP

A man walks near the New York Stock Exchange (NYSE) on August 31, 2020 at Wall Street in New York City.Photo: CFP



US shares of Chinese ride-hailing giant Didi plunged by more than 24 percent on Tuesday, in a rout that pulled other two platform firms that have recently been in China's cybersecurity crosshairs.

NASDAQ shares of Kanzhun, owner of job-hunting platform Boss Zhipin, lost nearly 11 percent, while Full Truck Alliance, a Chinese company similar to Uber Technologies, dubbed the "Didi of truck freight", saw its shares plunge as much as 20 percent on Tuesday.

The US market, which was closed on Monday in observance of Independence Day, resumes trading on Tuesday. 

China's cybersecurity review office said on Monday it was conducting reviews in accordance with relevant laws into Boss Zhipin, as well as Yunmanman and Huochebang - two truck-booking platforms under the Full Truck Alliance - citing national data security risks.

On Friday, a similar review was launched into Didi, and its ride-hailing app was slapped with a takedown order on Sunday due to "serious violations of law and regulations" in the collection and use of personal information. 

Global Times