Chinese Stocks Continue Lower on SEC Scrutiny of Accounting

December 4, 2012 10:10 AM EST
Chinese stocks continued weaker today. As pointed out yesterday, the entire sector is on watch as after the SEC began administrative proceedings against the China affiliates of each of the Big Four accounting firms and another large U.S. accounting firm for refusing to produce audit work papers and other documents related to China-based companies under investigation by the SEC for potential accounting fraud against U.S. investors.

China stocks to watch:
Focus Media Holding Ltd. (NASDAQ: FMCN), New Oriental Education & Technology Group (NYSE: EDU), Fushi Copperweld, Inc. (NASDAQ: FSIN), Qihoo 360 Technology Co. Ltd (Nasdaq: QIHU), E-Commerce China Dangdang Inc. (Nasdaq: DANG), Youku Inc. (Nasdaq: YOKU), Tudou Holdings (Nasdaq: TUDO), Renren (NYSE: RENN), Baidu (Nasdaq: BIDU), (Nasdaq: SOHU), SINA Corp. (Nasdaq: SINA).

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