U.S.-listed shares of major Chinese companies, including electric-car maker Nio Inc. and e-commerce giant Alibaba Group Holding Inc., tanked on Friday following news that ride-sharing company Didi Global Inc. plans to delist from the New York Stock Exchange.
American depositary receipts of Nio Inc.
NIO,
-11.19%,
which earlier this week reported rising November sales, were off 12% in late trading Friday, poised to end the week off more than 20%. Li Auto Inc.
LI,
-15.95%,
another Chinese EV maker that reported November sales this week, fell 16%, putting it on track for weekly losses of around 13%.