Chinese Stocks in the U.S.: Phoenix New Media, Renren, Sina
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, added 0.4 percent to 439.96. The American Stock Exchange China Index slid 0.5 percent to 258.01. The Shanghai Composite Index lost 1.4 percent to 2,844.08.
The following companies were among the most active Chinese shares in New York trading. Stock symbols are in parentheses and prices are as of the close of trading at 4 p.m. New York time.
Sina Corp. (SINA US), owner of the third-visited website and the Twitter-like Weibo service in China, fell 5.6 percent to one-month low of $113.15. Morgan Stanley, Standard Chartered Plc and Mirae Asset Securities Co. cut their ratings on the stock today after the company reported first-quarter net income that fell short of estimates.
Sohu.com Inc. (SOHU) , the owner of China’s fourth-most visited website, tumbled 8.1 percent to $84.91, the lowest level since March 28.
Baidu Inc. (BIDU US), which owns China’s most popular online search engine, dropped for a third straight day, losing 0.5 percent to $138.20. That was the lowest since April 6.
Renren Inc. (RENN US), China’s biggest social-networking website by page views, lost 6.6 percent to $12.60, the lowest since the company’s initial public offerings May 4. The stock has declined in six consecutive trading sessions.
Youku.com Inc. (YOKU) , owner of China’s biggest online- video site, lost 9.5 percent, the most in five months, to $46.31.
Phoenix New Media Ltd. (FENG US), a Beijing-based Internet, TV and mobile-news provider, jumped 34 percent to $14.75 in first day of trading after selling 12.77 million American Depository Receipts at $11 each.
To contact the reporter on this story: Belinda Cao in New York at Lcao4@bloomberg.net
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