Associated Press
Shares of Chinese companies listed on U.S. exchanges have plunged in recent weeks along with the broader Chinese stock market.
Scores of Chinese companies trade on U.S. exchanges, often in the form of American Depositary Receipts, or ADRs, which typically represent a bundle of shares that trade on foreign exchanges.
U.S.-listed shares that have tumbled in recent weeks include well-known Chinese firms like e-commerce giant Alibaba Group Holding Ltd., which has lost 17% since a recent high in May and 34% from its post-IPO peak in November. Chinese social media company Baidu Inc. has lost 12% in the last two weeks and is down 26% from a peak in November.
Lesser-known shares have seen an even bigger fall. Social media company Renren Inc. is down 15% in the last two weeks. Autohome Inc., a Chinese auto information website, has lost 12% in the last two weeks. E-Commerce China Dangdang Inc. is down 30% in that time. All three companies trade on the NYSE.
If a stock that trades on a Chinese exchange is suspended, it does not necessarily mean that the share will stop trading here in the U.S., according the New York Stock Exchange. U.S.-listed shares trade according to rules set by the U.S. exchanges.
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