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Chinese Internet/telecom stocks hit hard by tech selloff, weak PMI

  • Chinese Internet  and telecom names are among the biggest tech decliners as the Nasdaq registers a 0.9% drop. A soft November PMI print isn't helping.
  • Giants Alibaba (BABA -4.3%) and Baidu (BIDU -2.8%) are among the casualties. As is Qunar (QUNR -5.8%), which reports after the bell.
  • Other Internet decliners: BITA -12%. QIHU -4.4%. CTRP -4.3%SFUN -7.2%. LEJU -7.5%. RENN -6.3%. SINA -3.8%. WB -3%. YY -3.9%. VIPS -3.8%. SOHU -3.5%. MOBI -4.3%. CMGE -8.6%.
  • Telecom decliners: CHL -3.6%. CHU -3.9%. CHA -4%.
  • ETFs: KWEB, CQQQ, QQQC-OLD

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