Chinese Stocks Slump on Tech Earnings, Geopolitical Tensions [BNN Bloomberg (Canada)]
Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share (BIDU)
Last baidu, inc. - american depositary shares, each representing 8 ordinary share earnings: 2/27 04:30 pm
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Source: BNN Bloomberg
The mainland benchmark CSI 300 Index slumped 3.1%, the most since Oct. 9. The Hang Seng China Enterprises Index of Chinese stocks traded in Hong Kong lost 2.1%, capping a second straight week of losses. A gauge of Chinese tech stocks in Hong Kong tumbled into a technical bear market. The retreat extends the market's slide since an October peak, underscoring growing frustration over the pace of Beijing's fiscal stimulus rollout and jitters over a potential escalation in US-China tensions. The disappointing earnings from consumption bellwether PDD Holdings Inc. and online search company Baidu Inc. have further dented confidence, with the latter's shares briefly plunging 10% in Hong Kong following a decline in revenue. Traders also pointed to statement by Texas Governor Greg Abbott dated Nov. 21, which prohibited state agencies from putting new money into investments originating from China and urged a divestment of previous holdings. That worsened fears that some of the largest US f
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BIDU
News
- Baidu, Inc. (NASDAQ: BIDU) had its price target lowered by analysts at Benchmark Co. from $135.00 to $130.00. They now have a "buy" rating on the stock.MarketBeat
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- Chinese Stocks Slump as Weak Tech Earnings Hit Sentiment [Yahoo! Finance Canada]Yahoo! Finance Canada
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BIDU
Earnings
- 11/21/24 - Beat
BIDU
Sec Filings
- 11/21/24 - Form 6-K
- 10/28/24 - Form 6-K
- 10/8/24 - Form 6-K
- BIDU's page on the SEC website