SINA shares slip on Alibaba fraud probe# Stock
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10:52 EDT China police detain 36 people for fraudulent Alibaba listings,
WSJ reports Eastern China police detained 36 people in an investigation of
fraudulent listings on Alibaba.com, the Wall Street Journal reports. Alibaba
Group said the people allegedly used fake personal and business identities
to open more than 100 accounts on several websites, the Journal added. The
Fly notes shares of Yahoo (YHOO), which owns a stake in Alibaba, declined
following the report, as did shares of SINA (SINA), Baidu (BIDU), and
NetEase.com (NTES).
10:49 EDT SINA shares slip on Alibaba fraud probe, support is at $95.67
10:47 EDT Police detain 36 in China amid Alibaba fraud probe, WSJ reports
WSJ reports Eastern China police detained 36 people in an investigation of
fraudulent listings on Alibaba.com, the Wall Street Journal reports. Alibaba
Group said the people allegedly used fake personal and business identities
to open more than 100 accounts on several websites, the Journal added. The
Fly notes shares of Yahoo (YHOO), which owns a stake in Alibaba, declined
following the report, as did shares of SINA (SINA), Baidu (BIDU), and
NetEase.com (NTES).
10:49 EDT SINA shares slip on Alibaba fraud probe, support is at $95.67
10:47 EDT Police detain 36 in China amid Alibaba fraud probe, WSJ reports