Baidu Inc. (NASDAQ: BIDU) shares declined 7.6% to $91.88 in pre-market trading on Tuesday. The decline follows an announcement regarding the company’s listing status in Hong Kong.
Baidu stated that its Class A ordinary shares, which trade on The Stock Exchange of Hong Kong Limited, have been included in The Shenzhen-Hong Kong Stock Connect program. The inclusion is effective as of September 7.
The article notes that this move by Baidu contributed to a broader decline in U.S. stock futures, with the Dow futures falling over 400 points. The drop in Baidu shares occurred alongside other major stocks moving lower in the pre-market session.
