Stocks

China concept stocks in the US stock market were widely sold off on March 24, with most stocks down more than 10%. Investors wondered what was going on.

Sina, one of China's oldest Internet companies, announced Tuesday the completion of its privatization and delisting from the Nasdaq after 21 years of being listed there.

That's due to a lack of investor confidence in tech stocks over the past week and concerns about a broader environment that includes rising US Treasury yields.

Given the likelihood of the draft passing, CITIC Securities has suggested three possibilities for RLX Technology.

Baidu opened at HK$254 per share on its debut, up 0.79 percent from its offering price of HK$252, giving it a total market capitalization of HK$718.526 billion ($92.5 billion).

As of press time, the company's shares are down more than 38 percent and its market value has evaporated by more than $7 billion.

Its gross margin for the quarter was 85.0%, compared to 83.7% in the same quarter last year. On a non-GAAP basis, net income for the quarter was RMB 62.2 million.

The new miner requires fewer resources to mine a single bitcoin because of its much higher hash rate.

Just 12 days after its initial purchase of tens of millions of dollars in Ether and Bitcoin, the Chinese beauty app Meitu has made another move.

Pinduoduo's shares expanded more than 6 percent in pre-market trading after the earnings report. But the shares quickly plummeted after Huang announced his resignation as chairman, turning down 3.6 percent.