The US Stock Exchange watchdog SEC has listed Weibo, a Chinese alternative to Twitter, as one of the foreign companies at risk of losing its list in the United States. It is the sixth Chinese company on that list.
Chinese stock markets ended the last trading day of the week in red after gaining a good price last week. Hong Kong (Hong Kong) fell 2.4 percent and Shanghai stock market fell 1.2 percent. Shenzhen stock market fell 1.9 percent.
The reason is the uncertainty about many Chinese companies that are at risk of losing the US stock market list. The United States is known as the Holding Foreign Companies Accountable Act (HFCAA). A name was added to that list on Thursday: Weibo.
A total of six Chinese companies are now at risk of losing their US stock market list if they fail to comply with the regulator’s requirements. Beijing, which has raised national security concerns, has not only allowed Chinese companies to share sensitive data with the United States.
Weibo said it was exploring its options. The Chinese micro-blogging site did not immediately know what this meant.
Small sledgehammer feet for investors
The news is a small blow to investors who hold Chinese stocks in their portfolio. The rally, which started last week, is coming to an end. The rise came after China said it was cutting back on domestic technology and IPOs abroad. More supportiveநாடு The country wants to stop the sharp fall in prices of Chinese companies in recent months.
Analysts have recently warned that Chinese stocks are currently heavily dependent on policy decisions. “You can invest in the country. Make sure you understand the political and policy developments, ”said Richard Martin, Managing Director of IMA Asia, earlier this week. An interview with CNBC⁇
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