Chinese Stocks in the U.S.: Cnooc, Hanwa, PetroChina, Youku.com
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, tumbled 4.7 percent, the most since August 2009, to 408.54. The American Stock Exchange China Index plunged 5.1 percent to this year’s low of 235.40. The Shanghai Composite Index added 0.2 percent to 2,684.04.
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.
The Nasdaq Composite Index (CCMP) plunged 5.1 percent, the most one-day drop since January 2009 amid a global rout in equities.
Ctrip.com International Ltd. (CTRP) , China’s biggest online travel agency, slid 3.6 percent to $38.19, the lowest since March 23. The company was raised to “buy” from “hold” at Brean Murray & Co. by equity analyst Fawne Jiang. The 12- month price target was set at $43.
Hanwha SolarOne Co. (HSOL US), part-owned by South Korea’s Hanwha Chemical Corp., plunged 15 percent, the biggest loss since December 2008, to $4.37. The company will report its unaudited financial results for the second quarter on Aug. 24, it said in a statement distributed by PR Newswire.
Youku.com Inc. (YOKU) , owner of China’s biggest online- video site, tumbled 13 percent, the most since June 13, to $28.94. Tudou Holdings Ltd., the operator of China’s second- largest online-video website, plans to raise as much as $180 million in a U.S. initial public offering, 50 percent more than it sought in its first filing in November, according to a regulatory filing yesterday.
Crude oil wiped out all of its gains for 2011 and natural gas traded below $4 for the first time since April in New York as concern the global economy is weakening sent raw materials prices tumbling around the world.
China Petroleum and Chemical Corp. (SNP US), the country’s biggest refiner known as Sinopec, slid 4.5 percent to $91.45, the lowest since December.
Cnooc Ltd. (CEO) , China’s largest offshore energy producer, fell 5.9 percent to $204.07, the lowest since Oct. 27.
PetroChina Co. (PTR US) the nation’s biggest oil producer, retreated 4.7 percent, the most since April 12, to $133.22.
To contact the reporter on this story: Belinda Cao in New York at Lcao4@bloomberg.net
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