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China's Zhihu tumbles 24% in Hong Kong 'homecoming'

Q&A site set for worst debut among U.S.-listed companies seeking backup position

HONG KONG -- Chinese question-and-answer website Zhihu tumbled more than 20% in its Hong Kong trading debut on Friday, just a day after it was added to an official list of companies facing ejection from U.S. markets.

The drop marks the worst start among around 20 Chinese stocks that have taken up backup positions on the Hong Kong Stock Exchange since late 2019 in the face of potential removal from New York exchanges due to a dispute over audit inspections.

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