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Markets

Chinese stocks tumble in Hong Kong after SEC delisting warning

Didi Global drops up to 20% in premarket trading after report of listing delay

Biotechnology company BeiGene and Yum China, which runs the KFC chain in China, have been told by the U.S. Securities and Exchange Commission that they face delisting.   © Reuters

HONG KONG/NEW YORK -- Investors moved to drop Chinese shares in Hong Kong on Friday following disclosure that five companies listed in New York had been warned by the U.S. Securities and Exchange Commission to expect delisting.

The Hang Seng Tech Index, which includes several Chinese technology companies listed in both Hong Kong and New York, slid as much as 8.9% before closing down 4.3%. The main Hang Seng Index ended 1.6% lower after dipping as much as 3.9%.

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