China ADRS Plunge Most Since 2011 as Support Fails to Stem Rout
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U.S.-traded Chinese stocks plunged the most in four years after the government’s latest support measures failed to stem the rout in mainland markets.
The Bloomberg China-US Equity Index sank 5.1 percent to 121.36 in New York, the steepest drop since September 2011. Internet companies including Weibo Corp., Xunlei Ltd. and Changyou.com Ltd. tumbled more than 12 percent. The biggest U.S. exchange-traded fund tracking mainland stocks slumped 2.5 percent, extending its loss since a June 12 peak to 25 percent.