Hong Kong-listed shares of many Chinese tech giants rose Tuesday, bucking the overall market’s decline on hopes that the end of Beijing’s year-long investigation into ride-hailing app Didi Global could ease Chinese regulators’ scrutiny of the internet sector. Alibaba rose 1.9%, while its e-commerce rival JD.com gained 3%. Food delivery app Meituan rose 0.5% and video app Kuaishou was up 1.2%....
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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