The ride-hailing company announced late Thursday it will withdraw its American depositary shares from the New York Stock Exchange and pursue a listing in Hong Kong in March. It said it will ensure that the U.S. stock will be convertible into freely tradable shares on another internationally recognized stock exchange. Didi’s shares plummeted about 18 per cent as of midday Friday. (The Logic, Bloomberg)

Talking point: The announcement comes a week after Chinese regulators reportedly asked the tech giant to consider privatization or a transition of its shares from the U.S. to Hong Kong, citing concerns over sensitive data leaks. Its short-lived journey in the U.S. market (less than six months since its June debut) is a sign of an increasing economic decoupling between the world’s two biggest economies. Didi may not be the only U.S.-listed Chinese tech company that will succumb to Beijing’s pressure. It is also a sign that big data is now a strategic resource as a mutual distrust over sensitive information grows between the two countries.