Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>Shares of two Chinese tech companies - <keyword id="11240755" type="COMPANY" weightage="60" keywordseo="full-truck-alliance">Full Truck Alliance</keyword> and <keyword id="11583548" type="UNKNOWN" weightage="60" keywordseo="kanzhun">Kanzhun</keyword> - sank Tuesday following the launch of regulatory review in China. </li><li>China's cybersecurity regulator said the reviews are aimed at curbing national security risks. </li><li>Didi shares plunged after China ordered the ride-hailing app removed from stores. </li></ul>Shares of two Chinese tech companies listed in the US dropped sharply Tuesday after a Chinese regulator put them under a security review days after the country launched a similar action against ride-hailing service <a href="https://markets.businessinsider.com/stocks/didi-stock">Didi</a>. China's Cybersecurity Review Office will review two truck-hailing apps run by <a href="https://markets.businessinsider.com/stocks/ymm-stock">Full Truck Alliance</a> and an online-based recruitment app from <a href="https://markets.businessinsider.com/stocks/bz-stock">Kanzhun</a> "in order to prevent national data security risks, maintain national security, and protect the public interest," <a href="http://www.cac.gov.cn/2021-07/05/c_1627071328950274.htm">according to a translation of Monday's announcement.</a> Shares of Full Truck Alliance sank 22% on the New York Stock Exchange then trimmed the loss to 19%. Kanzhun's Nasdaq-listed stock dropped 11%. Each company made its trading debut in the US in June. The regulator on Friday used that same language in <a href="https://mp.weixin.qq.com/s?__biz=MzAwMjU0MjIyNw==&amp;mid=2651386082&amp;idx=1&amp;sn=dbb99a488acbf743607dd515c8dcced6&amp;chksm=81348f1eb6430608c4f600348bb02cb610987c5b8a734ce318765d53910f921e9e00ec2a3cb6&amp;mpshare=1&amp;scene=1&amp;srcid=07028yg5Rdmv187dSOF6DSA0&amp;sharer_sharetime=1625225337715&amp;sharer_shareid=0c2338dd3c8254d7e502a2f495279159&amp;exportkey=AvjZfbm0g2heFP2qoJbHVAM%3D&amp;pass_ticket=269ahnyoCpX1vaqCvywYGFJr%2F%2BfvyE7lt%2B8XCTcE3dFmY9cCCVZpOqGFB%2FZCya7M&amp;wx_header=0#rdTcE3dFmY9cCCVZpOqGFB%2FZCya7M&amp;wx_header=0#rd0#rdTcE3dFmY9cCCVZpOqGFB%2FZCya7M&amp;wx_header=0#rd">launching a data security review of ride-hailing app Didi</a>, a move that has since led to a <a href="https://markets.businessinsider.com/news/stocks/didi-stock-price-china-crackdown-us-ipo-ride-hailing-uber-2021-7">sharp selloff of the company's shares</a> since their trading debut in the US last week. <a href="https://markets.businessinsider.com/news/stocks/tencent-sheds-65-billion-government-crackdown-ant-group-2021-3">China has been clamping down</a> on technology companies over issues ranging from security to anti-competitive behavior. Full Truck Alliance and Kanzhun won't be able to add new users while the Cybersecurity Review Office works on the reviews. The office runs under the <keyword id="2532678" type="PERSON" weightage="60" keywordseo="Cyberspace-Administration-of-China">Cyberspace Administration of China</keyword>. Didi shares on Tuesday sank as much as 25% and fell below their IPO price of $14 after Chinese authorities on Sunday ordered app stores<a href="https://markets.businessinsider.com/news/stocks/didi-app-suspended-china-personal-data-collection-2021-7?utm_source=markets&amp;utm_medium=ingestgest"> to remove Didi Chuxing</a> from their platforms. The move came as the Cyberspace Administration of China cited violations in the collection and use of personal data by Didi.Chinese regulators launched the review on Friday. Didi<a href="https://markets.businessinsider.com/news/stocks/didi-ipo-retail-favorite-chinese-ride-hailing-company-2021-6?utm_source=markets&amp;utm_medium=ingestgest"> began trading</a> last week on the New York Stock Exchange, marking the largest IPO of a Chinese company since the 2014 debut of e-commerce heavyweight <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba</a>. Full Truck Alliance, which raised $1.6 billion in its IPO, links truckers with companies that need their goods moved. Kanzhun operates recruiting services under the Boss Zhipin mobile app and debuted in a $912 million IPO.

China expands security review beyond Didi, sending shares of 2 US-listed Chinese tech companies plunging

You Searched For "ymm stock price" and got 1 results

China expands security review beyond Didi, sending shares of 2 US-listed Chinese tech companies plunging

Carla Mozée

Popular Keywords

Buying Guides