Qihoo Rebounds as Easing Bets Spur ADR Rally: China Overnight
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Chinese equities traded in the U.S. surged on speculation policy makers will implement more measures to stem a slowdown in Asia’s biggest economy. Qihoo 360 Technology Co. climbed from a five-month low.
The Bloomberg China-US Equity Index of the most-traded Chinese companies in New York added 1.3 percent to 91.76 yesterday. Qihoo jumped 5.1 percent after the security software developer denied a report that user traffic on its website is lower than reported. LDK Solar Co. led gains in solar makers as the government quadrupled an installation goal for sun-derived energy projects. China Southern Airlines Co. rose to a seven-week high after the Shanghai Securities News said regulators cut jet fuel prices.