RIYADH: Some of China"s biggest tech firms are seeing investors boost their proportion of Hong Kong-traded shares away from American Depository Receipts (ADR), as tougher US regulatory oversight and elevated bilateral tensions darken the prospects for such firms on Wall Street. Nine Chinese companies that have a US primary listing, and either secondary or dual primary-listed status in the Asian financial hub have seen an increased proportion of Hong Kong shares in the past year, according to Bloomberg calculations based on exchange data available through January 2021. Alibaba Group and JD.com led the pack, with the conversions doubling, Bloomberg reported. ADR holders can hand their US shares back to the depository bank to record the transfer, which then exchanges them into Hong Kong-listed shares at a specified ratio. “In the case of forced ADR liquidation or restrictions for investors to trade ADRs in the US, most foreign investors would still be able to keep their exposure to these stocks via their Hong Kong listings,” said Jessica Tea, investment specialist at BNP Paribas Asset Management Asia.