Newly Listed China-Concept Stocks Dive in New York
Shares of three newly U.S.-listed China-concept stocks plunged 7% or more in the latest trading session on Wall Street as social networking giant Weibo fell by nearly as much in a pullback from a recent wave of positive sentiment.
Online microlender Qudian Inc. and luxury e-commerce site Secoo Holding Ltd. both fell by 7.2% on Wednesday in New York, while after-school instruction specialist Rise Education Cayman Ltd. fell by 14.4%. On the same day, Weibo Corp. dropped 5.7% after the company announced a plan to issue $700 million in bonds and gave some preliminary third-quarter financial results.
- 1Exclusive: Fallen Chief of Bad-Asset Manager Had Tons of Cash — Literally
- 2 Opinion: Trump’s China ‘Poison Pill’ May Hit Australia
- 3Shenzhen Has Billion-Dollar Bailout Plan For Local Companies
- 4Spy Camera Discovery Creates Outrage at Apartment Leasing Specialist
- 5China's Stock Rout Puts $613 Billion of Share Pledges at Risk
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas