Jun 07, 2022 02:11 PM

TECH

Didi Shares Surge on Sign Beijing Is Easing Up on Tech

By Flynn Murphy, Jing Yuhan and Liu Tianxing

The rumored end of the national security probe into Didi comes as Beijing appears to put the brakes on its yearlong crackdown on tech, as the Chinese economy sputters. Photo: VCG

The rumored end of the national security probe into Didi comes as Beijing appears to put the brakes on its yearlong crackdown on tech, as the Chinese economy sputters. Photo: VCG

Shares of Didi Global Inc. surged by half their value in premarket trade in New York on Monday on the latest sign that Beijing is easing up on a crackdown on tech, before giving back some of those gains to close up 24%.

The surge came after The Wall Street Journal reported Chinese regulators were wrapping up an investigation into China’s biggest ride-hailing firm, and that its app would be restored to mobile stores as soon as this week, citing unnamed sources.

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