JD, Alibaba Stock Exodus From New York Intensifies
(Bloomberg) — Investors are shifting more of their shares in Chinese e-commerce giants to the Hong Kong market, as Beijing’s efforts have yet to dispel concerns over the companies’ eligibility to remain listed on Wall Street.
About 77% of JD.com Inc.’s shares are circulating in Hong Kong’s clearing and settling system as of Tuesday, versus 44% at the beginning of this year, according to Bloomberg calculations based on stock exchange data. Alibaba Group Holding Ltd.’s Hong Kong-listed share portion rose to 56% from 53% during the same period, the data show.
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