(Bloomberg) -- Chinese tech shares briefly touched their record lows in Hong Kong, as Didi Global Inc.’s announcement to start U.S. delisting and rising scrutiny on mainland firms traded there dealt a further blow to already soured sentiment.Most Read from BloombergThe Hot New Trend For Hedge Funds Is—Finally—Female FoundersAutomating the War on Noise Pollution‘Ghost Signs’ Haunt London’s Reviving NeighborhoodsEven in the Metaverse, Not All Identities Are Created EqualMeet the New Climate Refuge
Pinduoduo's (NASDAQ: PDD) stock plunged 16% to a new 52-week low on Nov. 26 after it posted its third-quarter earnings report. The Chinese e-commerce company's revenue rose 51% year over year to 21.51 billion yuan ($3.34 billion), but missed analysts' estimates by $690 million. Pinduoduo's headline numbers looked impressive, but concerns about its decelerating growth, regulatory headwinds, and commitment to China's "common prosperity" push are weighing down the stock.
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