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IPO

U.S.-listed China stocks tank after Ant IPO revival reports denied

Alibaba, JD.com and Pinduodo suffer big declines

The cancellation of Ant Group's IPO in 2020 was a symbolic event in Chinese regulators' clampdown on tech firms.    © Reuters

HONG KONG/NEW YORK -- U.S.-listed Chinese stocks tumbled Thursday after regulators in Beijing and Ant Group denied reports that Jack Ma's fintech company was dusting off shelved plans for an initial public offering.

The Nasdaq Golden Dragon China Index, which tracks major Chinese companies traded on U.S. exchanges, finished the day down 6.8% -- worse than the Nasdaq's 2.75% decline.

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