Baidu Hong Kong shares rise after dual primary listing move
Hong Kong shares of China's Baidu Inc 9888.HK climbed 6.8% to HK$97.1, on course for the biggest one-day pct decline since April 16.
The stock touched the highest level since August 18 in the third straight rising session.
It was the second biggest pct gainer in both the benchmark Hang Seng Index .HSI and Hang Seng TECH Index .HSTECH, which were down 0.5% and up 0.1% respectively.
U.S.-listed shares BIDU.O slid 0.2% on Wednesday.
Baidu said voluntary conversion of its secondary listing status to primary listing on the Hong Kong Stock Exchange will become effective on September 1, and the company will become dual primary listed on the Hong Kong Stock Exchange and Nasdaq.
YTD, Hong Kong stock was down 26.7%, while U.S.-listed shares were down 28.6%.
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