Chinese stocks fell the most in a month in New York, as Perfect World Co. sank after forecasting sales below analysts’ estimates while Suntech Power Holdings Co. slid amid debt restructuring and plans to close a U.S. plant.
Perfect World Co., a Beijing-based online-game developer, jumped the most since 2007 in U.S. trading after reporting fourth-quarter net income that was almost double the average of analysts’ estimates.
Robert Xiao is the head of one of China's oldest video-game companies. The rise of mobile gaming should probably keep him up at night, but the CEO of Perfect World isn't intimidated by the new kids in town.
Chinese stocks traded in the U.S. rose for a second day, led by Internet companies, on prospects the Asian nation will take further measures to spur expansion after import growth fell to a two-year low.