In a shock move by China, its cyberspace regulator has ordered app stores to stop offering Didi Inc’s (NYSE: DIDI) app. The ride-hailing company, one of the dominant players in China, was accused of illegally collecting users’ data. The crackdown comes just days after the company’s trading debut on the New York Stock Exchange at an IPO price of US$14. Predictably, the move resulted in a sell-off in Didi’s shares, causing it to plunge 23% from a high of US$15.52 on 2 July to US$11.91 just three trading days later. This draconian step is also eerily reminiscent of a move by Shanghai last November to suspend the IPO of Ant Group. Back then, Ant’s IPO was slated to be the biggest technology company listing ever, but China’s move scuttled the IPO and the company was asked to “resolve its issues” before it can list. Investors are now in a quandary....