Switch to Instant Messaging Sinks Sina to Sohu: China Overnight
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Sina Corp. and Sohu.com Inc. led declines in Chinese equities traded in New York as data showed some users opted for instant messaging applications over Twitter-like microblogs.
The Bloomberg China-US Index of the most-traded Chinese stocks in the U.S. slid 0.2 percent to 102.93 yesterday, falling for a third day this week. Sina, the biggest Twitter-like service provider in China, sank 4.8 percent and Sohu slumped for a second day. LDK Solar Co., the second-biggest maker of solar wafers, slid to an eight-month low. Online retailer Vipshop Holdings Ltd. surged to a record $103.81, while LightInTheBox Holding Co. jumped to the highest level in two months.