Chinese Internet Stocks Move Following Alibaba Group Holding Ltd Open

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Shares of Alibaba Group Holding Ltd BABA opened for trade at $92.60 and quickly ran to a high of $99.70 within the first 10 minutes. Shares have settled around $92.40.

Yahoo! Inc. YHOO, which owns a considerable stake in Alibaba, opened the trading session with a strong move up and has given up the early gains following the open of Alibaba; shares were last down 2.9 percent.

Other Chinese Internet stock were also down:

  • Baidu Inc (ADR) BIDU -1.6 percent
  • Sina Corp SINA -0.87 percent
  • Qihoo 360 Technology Co Ltd QIHU -2.23 percent
  • JD.Com Inc(ADR) JD -5 percent
  • Yoku Tudou Inc (ADR) YOKU -1.9 percent
  • Renren Inc RENN -0.87 percent
Posted In: NewsIntraday UpdateMovers
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