Asia Stocks Recap: Downward Pulls
Chinese online financial news provider China Finance Online (JRJC) moved its vice president of sales and marketing, Caogang Li, to the position of chief operating officer. "Caogang has been instrumental in building our telemarketing capability and integrating it with our Internet media platforms, a core competency that we can apply to distribute a diversified portfolio of financial products and services to the investors in China," said Zhiwei Zhao, CEO of China Finance Online. Shares of China Finance Online are fell 10.7% to $18.95.
Other major decliners among Chinese ADRs Monday were China Natural Resources (CHNR), which fell 8.1% to $24.17; Ninetowns Internet Technology Group (NINE), off 6.3% to $2.52; LDK Solar (LDK), off 9.5% to $225.88; and China Digital TV (STV), off 9.5% to $19.85 (though the stock was takign back 2.8% in recent after-hours action).
Be sure to check out the Far East Portfolio at Stockpickr.com every night to find out which stocks in India and China are making big moves and announcing major news.
For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.
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