Perfect World Profit Drives Stock Jump: China Overnight
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Perfect World Co. advanced the most in more than four years, leading gains in Chinese stocks traded in the U.S., as expansion into overseas markets spurred a doubling in profit and a special dividend.
Online-game developer Perfect World jumped 28 percent on March 16 in New York, the best performer on the Bloomberg China-US 55 Index. The gauge of the most-traded Chinese stocks in the U.S. rose 0.6 percent last week, bolstered by video sharing website Youku Inc.’s acquisition of competitor Tudou Holdings Ltd. China Eastern Airlines Corp. traded 1.4 percent below Hong Kong stock, the biggest discount in almost two weeks.