15
March
2010
|
02:23 AM
America/Los_Angeles
GOOG Falls As BIDU Rises On Expected China News
In mid-day trading, Google [$GOOG] was down 3.4 per cent to $559.73 on concerns about an imminent announcement that it is closing its Chinese search service.
Its Chinese rival Baidu [$BIDU] was up 4.1 per cent to $572.95, as investors expected it to benefit from Google's exit from the Chinese market.
Please see:
Analysis: Could $GOOG Face Problems Outside Of China For Its Opposition To Chinese Government?
Analysis: Financial Times Says GOOG Has Detailed Plans To Close China Search
Looks Like Google Is Out Of China - Senior Official Says It Must Obey The Law
