Alert icon
We're changing our privacy policy. This stuff matters.  Learn more  Dismiss

Chinese Firms Drop After News of Department of Justice Probe

Loading...

Sign in or sign up now!
Alert icon
Upgrade to the latest Flash Player for improved playback performance. Upgrade now or more info.
119 views
Loading...
Alert icon
Sign in or sign up now!
Alert icon

Uploaded by on Sep 29, 2011

On Thursday shares of U.S. listed Chinese companies fell after top securities regulators said U.S. criminal authorities are investigating accounting irregularities at Chinese companies listed on U.S. stock exchanges.

The following companies that fell are Sohu.com Inc (NASDAQ:SOHU) which dropped 7.8% to $48.99, Baidu Inc (NASDAQ:BIDU) lost 6% to $114, while Sina Corp (NASDAQ:SINA) fell 8% to $74.60.

Robert Khuzami, director of enforcement at the U.S. Securities and Exchange Commission said in an interview, "There are parts of the Justice Department that are actively engaged in this area."

Sohu.com (NASDAQ:SOHU) has a potential upside of 99.3% based on a current price of $49.19 and an average consensus analyst price target of $98.04.

Category:

News & Politics

Tags:

License:

Standard YouTube License

  • likes, 0 dislikes

Link to this comment:

Share to:
see all

All Comments (0)

Sign In or Sign Up now to post a comment!
Loading...

Alert icon
0 / 00Unsaved Playlist Return to active list
    1. Your queue is empty. Add videos to your queue using this button:
      or sign in to load a different list.
    Loading...Loading...Saving...
    • Clear all videos from this list
    • Learn more