Baidu share slide wipes $2.4 billion off market value amid speculation over Xi meeting
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Baidu's market value dropped by $2.4 billion as its shares fell in Hong Kong. This decline followed the absence of Baidu's founder at a meeting between President Xi Jinping and corporate leaders, sparking investor concerns.
February 17, 2025 | 10:00 am
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Baidu's shares fell significantly, wiping $2.4 billion off its market value. The decline was triggered by the absence of its founder at a meeting with President Xi Jinping, causing investor concerns.
The absence of Baidu's founder at a high-profile meeting with President Xi Jinping led to investor concerns about the company's standing with the Chinese government, resulting in a significant drop in Baidu's share price.
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