Several Chinese Web/mobile stocks off sharply

• A slew of Chinese Web/mobile firms are seeing heavy selling pressure on a day the Nasdaq is nearly flat. Search/security/browser/app store provider Qihoo (NYSE:QIHU -3.9%) is among the decliners. As are game developer NetEase (NTES -5.8%), game publisher China Mobile Games (CMGE -3.7%), and online real estate plays SouFun (SFUN -3.7%), E-House (EJ -5%), and Leju (LEJU -3.3%).
• YY is also off today, as is 500.com, which disclosed sports lottery license suspensions from provincial authorities.
• Qihoo was hammered last week following a Jefferies downgrade. NetEase is a day removed from announcing it's setting up a U.S. HQ in Silicon Valley to build "a strong pipeline of mobile games for Western audiences from the ground up."