China
continues down path of market rates
Below these are the Performing China stocks of the day January 23, 2014.
Chinese tech stocks tumble on SEC
action; new Qihoo/Alibaba rumor emerges
SEC administrative law
judge Cameron Elliot has barred the Chinese units of the Big-4 accounting firms
- KPMG, Deloitte, PwC, and Ernst & Young - from auditing U.S.-listed
companies for six months.
Elliot declares the accounting firms "willfully"
chose to withhold audit work papers from U.S.
regulators for Chinese companies being investigated for accounted fraud. The
firms have been worried about violating Chinese privacy laws by turning over
the papers, and have argued the dispute needs to be resolved politically.
Though the firms plan to appeal and say they can continue
serving Chinese clients for now, shares of Chinese Web and solar names aren't
handling the news well. Soft Chinese PMI
data could be worsening matters.
Chinese Web decliners: BIDU -2.5%. SOHU -3.2%. DANG -8.9%. SFUN -8.5%. PWRD
-8.5%. QUNR -7.1%. LITB
-6.5%. YY -6.1%. WUBA -6%. BITA -5.4%. EJ -5.9%. SINA -4.6%. LITB -6.5%. CTRP -5.4%. NQ
-7.1%.
Chinese
solar decliners: TSL -8.7%. JASO -6.9%. SOL -6.3%. JKS -5.6%. CSIQ -5.4%. DQ
-4.6%. YGE -5.6%. CSUN -6.2%. HSOL -7.8%.
Qihoo (QIHU -4.6%) has joined the selloff in spite of a
BrightWire report stating Alibaba (ABABA) has reached a deal to acquire a stake
in the company. Marbridge Consulting reported two weeks ago Qihoo and Alibaba
were in talks about a possible investment.
Ticker Company Change
GAME Shanda Games Limited 1.13%
PACT Pactera Technology International Ltd. 0.00%
GA Giant
Interactive Group, Inc. -1.53%
BIDU Baidu, Inc. -2.33%
SOHU Sohu.com Inc. -2.51%
RENN Renren Inc. -2.80%
AMCN AirMedia Group Inc. -2.93%
MR Mindray Medical
International Limited -2.95%
VIPS Vipshop
Holdings Limited -2.98%
XUE Xueda Education
Group -3.46%
CCIH ChinaCache
International Holdings Ltd. -3.57%
BORN China
New Borun Corporation -3.81%
JRJC China
Finance Online Co. Ltd. -3.87%
WX WuXi
PharmaTech (Cayman) Inc. -3.94%
YOKU Youku Inc. -3.94%
NTES NetEase.com, Inc. -3.99%
SINA Sina Corp. -4.18%
VNET 21Vianet Group, Inc. -4.19%
SVA Sinovac Biotech
Ltd. -4.20%
EDU New Oriental
Education & Technology Group -4.77%
MY China Ming Yang
Wind Power Group Limited -4.78%
CTRP Ctrip.com
International Ltd. -4.95%
GOMO Sungy
Mobile Limited -5.00%
BITA Bitauto Holdings
Limited -5.03%
KNDI Kandi
Technologies, Corp -5.11%
EJ E-House (China)
Holdings Limited -5.28%
MOBI Sky-mobi Limited -5.31%
YY YY Inc. -5.36%
HTHT China Lodging
Group, Limited -5.49%
NOAH Noah Holdings
Limited -5.53%
JKS JinkoSolar
Holding Co., Ltd. -5.62%
YGE Yingli Green
Energy Holding Co. Ltd. -5.87%
WUBA 58.com
Inc. -5.93%
QIHU Qihoo 360
Technology Co. Ltd -6.03%
STV China Digital
TV Holding Co., Ltd. -6.07%
NQ NetQin Mobile Inc. -6.12%
SOL ReneSola Ltd. -6.14%
FENG Phoenix
New Media Limited -6.23%
WBAI 500.com Limited -6.27%
BSPM Biostar
Pharmaceuticals, Inc. -6.35%
LITB LightInTheBox
Holding Co., Ltd. -6.38%
QUNR Qunar Cayman
Islands Limited -6.47%
PWRD Perfect World Co.,
Ltd. -7.37%
JASO JA Solar
Holdings Co., Ltd. -7.47%
SFUN SouFun Holdings
Ltd. -7.72%
HSOL Hanwha SolarOne
Co., Ltd -7.77%
XRS TAL Education
Group -8.00%
TSL Trina Solar
Limited -8.52%
DANG E-Commerce China
Dangdang Inc. -9.29%
KONG Kongzhong
Corp. -10.40%
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