Qunar Cayman Islands Ltd. and 58.Com Inc. jumped after selling shares above their price targets, a signal that appetite for Chinese companies remains unshaken by Muddy Waters LLC’s fraud allegations against NQ Mobile Inc.
Carson Block, the Muddy Waters LLC founder whose short call prompted a 62 percent plunge in NQ Mobile Inc., said the stock will be delisted within a year. NQ’s co-chief executive officer said the prediction is “absurd.”
NYSE Euronext has submitted a rule filing to the U.S. Securities and Exchange Commission that modifies its guidelines for dealing with erroneous trades in the U.S. options market, according to a person familiar with the matter.
Alibaba Group Holding Ltd. is moving toward an initial public offering in the U.S. after talks for a Hong Kong listing broke down following management’s proposal to keep control in a share sale, according to two people familiar with the matter.
Computer malfunctions shook American equity trading for the second time this week, freezing thousands of securities listed on the Nasdaq Stock Market for three hours and raising fresh concerns about the fragility of exchanges.