Shanda Surges on New Mobile Game as Sohu Rises: China Overnight
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Chinese equities rose in New York as Shanda Games Ltd. surged after the successful start of a new mobile game. Sohu.com Inc. climbed on speculation its search engine unit will be acquired.
The Bloomberg China-US Equity Index of the most-traded Chinese stocks in the U.S. gained 0.2 percent to a five-week high of 89.88 yesterday. Shanda soared 17 percent, while Sohu advanced to the highest level since October 2011. Sina Corp. rallied for a fourth day and E-Commerce China Dangdang Inc. surged to a one-month high. LightInTheBox Holding Co. retreated.