Wu Junhua had been allowing her investment, a furnished one-bedroom apartment in the lake city of Hangzhou, to sit empty for a year until she found a solution: China’s version of Airbnb.com, known as Tujia.
China Petroleum & Chemical Corp. rallied the most since May 2009, leading gains among the nation’s stocks in New York, after Asia’s biggest oil refiner said it’s seeking private investors for its oil unit.
Home Inns & Hotels Management Inc. led a weekly rally in Chinese budget hotel operators traded in New York after a surge in travel during the country’s New Year holidays last week bolstered their revenue outlook.
Chinese stocks in New York fell the most in three weeks, led by SouFun Holdings Ltd., as China’s biggest real estate website posted the steepest four-day slump since 2011 on concern policy makers will step up efforts to curb rising home prices.
Qunar Cayman Islands Ltd., the Chinese travel-booking website controlled by Baidu Inc., surged in New York after reporting an increase in travel reservation on mobile devices. Ctrip.com International Ltd. plunged.
NQ Mobile Inc. surged to a three- month high, driving gains in Chinese companies traded in New York, after Altimeter Capital Management LLC reported an increase in holdings. Cnooc Ltd. sank the most since June 2012.