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China regulator will remove restrictions from Didi Global as early as next week. Didi shares at one point were up nearly 70% on Monday.
Chinese internet stocks are positioned for more short-term gains as Chinese regulators reportedly wind up their probe into ride-hailing DiDi Global (ticker: DIDI) and ease off on regulatory moves that have battered the internet sector.
The Chinese government is reportedly preparing to end investigations into these companies and allow them to return to Chinese app stores.
Yahoo Finance's Kevin Cirilli joins the Live show to discuss the U.S. Departments of Defense and Commerce investigating Didi Global.
Ride hailing company DIDI stock is surging on reports that Chinese regulators plan to end a months-long investigation of the company. The post DIDI Stock Surges 65% as China's Probe Into DiDi Winds Down appeared first on InvestorPlace.
Didi's apps are expected to return to China's domestic stores after Beijing's crackdown on the tech sector, The Wall Street Journal reported.
Didi's regulatory nightmare in China may be nearly over.
Shares of Chinese ride-hailing giant Didi surged more than 50% following news that Chinese authorities are planning to wrap up their investigation into Didi Global Inc as early as this week. Didi's main apps are also to be restored to mobile stores, according to a report in the Wall Street Journal.
China looks to conclude its yearlong regulatory probe on DiDi Global Inc (NYSE: DIDI) and two other U.S.-listed tech firms by as early as this week to lift a ban on their adding new users, the Wall Street Journal reports. China's deteriorating economic outlook has pressured.