Didi shares gain 1% after early jump in Wall Street debut

BEIJING (AP) — Didi Global, a Chinese ride-hailing service, rose 1% after making its U.S. stock market debut. The stock opened at $16.65 on the New York Stock Exchange, up 16%, but gave up most of the gains as trading progressed. The initial public offering of 288 million shares was priced at $14 a share. Didi said it aimed to spend 30% on technology development, another 30% to expand outside China and 20% on new products. Didi’s U.S. market debut came a day after it posted a loss of $5.5 billion over the past three years, though the company also touted its global reach and investments in developing electric and self-driving cars.