Chinese companies trading on North American exchanges are once again in the regulatory spotlight; this time, it’s the Chinese Internet companies that are under fire.
According to reports, the U.S. Justice Department (DoJ) is investigating possible accounting frauds at a number of Chinese Internet companies trading on U.S. exchanges, which isn’t too much of a surprise considering swelling speculation regarding the legitimacy of Chinese stocks.
Keep your eye on these guys and trade at your own risk:
SINA Corp. (NASDAQ: SINA), Baidu.com Inc. (ADR) (NASDAQ: BIDU), Yoku.com Inc. (NYSE: YOKU), Focus Media (NASDAQ: FMCN), Sohu.com Inc. (NASDAQ: SOHU), Ctrip.com (NASDAQ: CTRP), E-Commerce China Dangdang (NYSE: DANG), Tawmee Holdings (NYSE: TAOM) and Tudou Holdings (NASDAQ: TUDO).
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