Ctrip dives on CLSA downgrade, Qunar also off

|By:, SA News Editor

A CLSA downgrade to Underperform has led Ctrip (CTRP -5.5%) to add to its 2014 losses; shares are now down 23% YTD. Chinese online travel rival Qunar (QUNR -6.3%) is also off sharply.

Ctrip and Qunar both fell hard yesterday as well. Concerns about the sales/margin pressure caused by strong promotional activity (particularly on mobile) could be a factor.