Investor jitters flared as US-China financial tensions threaten the forced delisting of more than 100 Chinese firms, including Alibaba (HKG:9988) and JD.com (HKG:9618), from US exchanges, Reuters reported Thursday.
Audit disputes under the previous administration of Joe Biden previously hammered American depositary receipts, or ADRs, and companies like PDD and Full Truck Alliance, lacking Hong Kong backup listings, remain most at risk, according to the report.
Shenzhen New Thinking Investment Management portfolio manager Fan Liwen said ADRs are the biggest hostage situation in financial history and urged shifts to Hong Kong listings, Reuters wrote.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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