SINA Corp (SINA) Slumps as U.S. Consulate's Weibo Account 'Disappears'

SINA Corp. (Nasdaq: SINA) is getting hit early today following reports the U.S. Consulate in Shanghai's Weibo account has mysteriously disappeared.

Weibo, SINA's popular Twitter-like micro blogging service in China, has been hit with strict sign-up and censorship rules in the past.

According to reports out Tuesday, the consulate isn't sure why the account was removed or blocked. An error message appears when trying to view the account.

The news highlights just how much control China still places over companies that operate in the nation. Beijing has deleted Weibo posts by U.S. Government entities in the past, so the recent move might not be surprising to some.

In addition, SINA shares could be reacting to news New Oriental Education (NYSE: EDU) is the target of an SEC investigation.

Shares of SINA are down 7.4 percent in early trading Tuesday.

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