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China Stocks Sink: Ctrip.com International, (CTRP), Tuniu Corp (TOUR), 500.com Ltd (WBAI), ReneSola Ltd. (SOL), Qunar Cayman Islands

Chinese stocks slumped, with a gauge of shares in Hong Kong falling to an eight-month low, as foreigners pulled funds amid concern about the weaker outlook for the yuan and economic growth.

The Hang Seng China Enterprises Index dropped 1.8 percent to 10,862.47 at 1:05 p.m. local time, while the Shanghai Composite Index retreated 0.1 percent. Net outflows from Chinese and Hong Kong equities reached $531 million in the week to Aug. 12, the ninth week of sales out of the past 10, China International Capital Corp. said, citing EPFR Global. Ping An Insurance (Group) Co. led losses by insurers as the government seeks to contain the fallout from blasts in Tianjin port.

The yuan sank the most in 21 years last week after the government allowed markets greater sway in setting the currency’s level. China’s industrial production, investment and retail data all trailed analysts’ estimates, according to data released this month. The securities regulator signaled on Friday China Securities Finance Corp. will reduce the scale of its intervention in the stock market. The fund has become one of the most influential investors since a $4 trillion rout.

“Investors expect the depreciation of the yuan to continue,” said Sam Chi Yung, a strategist at Delta Asia Securities Ltd. in Hong Kong. A weaker currency would make Chinese assets less attractive to foreigners, he said, while any withdrawal by the government from the market would further “frighten” investors.

Yuan positions at China’s central bank and financial institutions fell by the most on record in July, a sign capital outflows picked up and the central bank stepped up intervention to support the yuan.

Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP) together with its subsidiaries, provides travel services for hotel accommodations, ticketing services, packaged tours, and corporate travel management in China. Ctrip.com International shares are trading 75.70 % above their 52 week low price after the last close and -18.31 % below the 52 week high. Its latest closing price was up 20.27 % from the average-price of 200 days while it kept its distance from the SMA50 at -2.51 % and -2.32 % compared with the SMA 20.

Shares of Tuniu Corp (NASDAQ:TOUR) were 51.89 % off 52 week lows as of the latest close and -32.31 % below the 52 week high. Its latest closing price was up2.30 % from the average-price of 200 days while it maintained a distance from the SMA 50 at -7.46 % and -0.42 % compared with the SMA 20. TOUR operates as an online leisure travel company in the People’s Republic of China. It offers packaged tours, including organized tours and self-guided tours, and travel-related services for leisure travelers covering various countries, as well as all popular tourist attractions in the People’s Republic of China

500.com Ltd (NYSE:WBAI) provides online sports lottery services in the People’s Republic of China.. The stock’s latest price traded at 179.48 % off 52 week lows after the closing bell and was -46.60 % behind its 52 week high. Its latest closing price was 5.54 % below the SMA200 while the distance from the SMA 50 and SMA 20 was -9.31 % and 2.58 % respectively.

ReneSola Ltd. (ADR) (NYSE:SOL) is trading 7.50 % higher than the 52 week low price and -64.36 % below the 52 week high. The stock’s latest closing price was -15.88 % down from the average-price of 200 days while it kept its distance from the SMA50 at -5.89 % and -2.16 % compared with the SMA 20. ReneSola Ltd. through its subsidiaries, manufactures and sells various solar power products.

Qunar Cayman Islands Ltd (NASDAQ:QUNR) operates online travel commerce platform for travel service providers (TSPs) and display advertisers in the People’s Republic of China so far this year has moved up 35.67 % and its monthly performance stands at -4.62 %. The stock was up 63.71 % from its 52 week low and was -28.88 % below the 52 week high. Its latest closing price was up 5.95 % from the average-price of 200 days while it kept its distance from the SMA50 at -10.36 % and -7.43 % compared with the SMA 20.