Dear readers, in yesterday’s post, I shared with readers what happened to one of a US-listed Chinese stock, TAL Education Group as 70% of its share values was erased in just one trading day.
The development of TAL Education Group came as there has been more and more scrutiny placed on US-listed Chinese stocks by China. As examples, investors should be able to recall the recent developments surrounding AliBaBa, Ant Group IPO, DiDi Global.
TAL Education Group stock was not the only US-listed Chinese stock that had its stock fell last Friday.
Tencent Music Entertainment stock, another Chinese ADR list on the US stock exchange, similarly saw its stock price head south by 6.91% as China orders Tencent to give up its music licensing rights. Tencent Music Entertainment stock now traded at its 52-week low of USD 10.78, almost a third of its 52-week high of USD 32.25.
Similarly, DiDi Global went another 20.98% south last Friday to USD 8.06 (as compared to its 52-week high of USD 18.01 and IPO price of USD 14). The falling of DiDi Global came as it was reported there would be some further measures against the company.
In Singapore stocks markets, some years back, S-chip stocks (Chinese stocks listed on SGX) have become infamous as a number of these stocks became delisted or did very badly. It seems that investors who would have thought mega Chinese stocks listed on the US exchange would be safer while providing a growth story would now have to accept that it is just as risky to invest or stay invested in these stocks in the current times.
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