Free Fall In China Internet Stocks (SINA) (RENN) (BIDU) (YOKU) (QIHU)

Chinese Internet and new media stocks are under heavy pressure today, continuing a recent trend.

The recent selling in the sector has been related to concerns over accounting practices.

Today an analyst at Susquehanna pounded the table on China-based Internet and new media stocks saying recent selling in the sector is not supported by fundamentals.

Stock Moves In the Sector:
Renren Inc. American Depositary (NYSE: RENN) -12%
Sina Corp. (Nasdaq: SINA) -11%
Youku.com Inc (NYSE: YOKU) -10%
Qihoo 360 Technology Co. Ltd. A (NYSE: QIHU) 6%
Sohu.com Inc. (Nasdaq: SOHU) -5%
E-Commerce China Dangdang Inc. (NYSE: DANG) -4%
Baidu, Inc. (Nasdaq: BIDU) -3%
Focus Media Holding Ltd. (Nasdaq: FMCN) -2%
Ctrip.com International Ltd. (Nasdaq: CTRP) -1%
NetEase.com, Inc. (Nasdaq: NTES) -1%

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