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Chinese stocks down on airplane fear

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airplane1 March 10, 2014 (Chinavestor) World markets were mixed before the opening bell on Wall Street this Monday. Asian indices fell the hardest while certain European stocks managed to minimize damage. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 1.75% while the Shanghai Composite Index (SHA:000001) fell below the psychologically important 2,000 level after a 286% dive. The Nikkei 225 fell over 1%. But France's CAC 40 was ahead just like India's Sensex.

World Index Snapshot, March 10, 2014, 8:30 A.M. EST.

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Chinese stocks were mixed last Friday with a negative bias. Sinopec (NYSE:SNP), China's largest oil refiner, advanced but most technology and telecom stocks suffered. Sohu.com Inc. (NASDAQ:SOHU) fell the hardest among internet plays but it was Baidu Inc. (NASDAQ:BIDU), the largest US listed Chinese internet stock, that set the tone for the rest of the sector. SouFun Holdings (NYSE:SFUN), Youku Tudou (NYSE:YOKU), Home Inns & Hotels Management (NASDAQ:HMIN), Ctrip.com Int. (NASDAQ:CTRP) as well as Sina Corp. (NASDAQ:SINA) all fell.

Telecom stocks declined as well as selected oil stocks like CNOOC Ltd. (NYSE:CEO).

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