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Sohu Sinks on Go-Private Denial as Ambow Jumps: China Overnight Inc. fell in New York after denying a report that it’s looking to go private, while Guangshen Railway Co. led gains in Chinese stocks on government plans to build new railway lines.

The Bloomberg China-US Equity Index of the most-traded Chinese companies in the U.S. was little changed at 93.9 yesterday, as 29 stocks rose and 26 fell. Sohu had the biggest tumble in a year and Internet security software provider Qihoo 360 Technology Co. dropped 7.6 percent after Jefferies Group LLC downgraded the stock. Guangshen surged to the highest level since 2008 while Ambow Education Holding Ltd. rallied the most since September.