Friday, April 1, 2022 12:51 PM
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This article includes information about: ALIBABA GROUP HOLDING LIMITED, BAIDU INC.,
Chinese stocks listed in the US are gearing up for a significantly higher open.
Alibaba looks set to open 6.6 percent higher, Baidu 7.9 percent and JD.com 5.9 percent. For Didi Global, an even 18 percent higher opening is expected.
According to Bloomberg, Chinese authorities appear willing to grant US regulators full access to the audit statements of most of the 200 Chinese companies listed in New York. That should happen by the middle of this year.
In this way, China wants to prevent these Chinese companies from losing their listing in the US, according to Bloomberg. However, Beijing also seems willing to let some state-owned or sensitive data companies lose their listing.
If the Chinese companies do not disclose information, the US Securities and Exchange Commission will decide that they must soon delist.
Since 2020, the rule has been that companies can lose their listing if the US regulator is unable to check the figures for three years in a row.
Update: to add more information.
The share price of BAIDU INC. quotes live on € * with a difference of %† The highest price of the day is € * with the low at € *.
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