Pursuits
Ctrip Tops Worst Weekly Drop in 2 Months: China Overnight
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Chinese equities in New York dropped, extending the longest stretch of declines since November. Ctrip.com International Ltd. tumbled on concern plans to offer discounted plane tickets will reduce profit.
The Bloomberg China-US Equity Index of the most-traded Chinese shares in the U.S. fell for a third day, sliding 0.9 percent to 99.61 yesterday to drop 2 percent this week, the most in two months. Ctrip, China’s largest web travel agency, sank the most since July 2010, triggering a short sale restriction from the Securities and Exchange Commission. China Life Insurance Co. slipped after an industry regulator said insurers face the most difficult year in 2013 while NetEase Inc. rallied.