China Automotive Systems Down 13% (CAAS)

China Automotive Systems, Inc. CAAS shares continue to plummet, as investors continue to flee anything remotely speculative in China. At last check, shares of China Automotive Systems were off $1.16 to $7.62, a loss of 13.2% on more than 500,000 shares. China Automotive Systems, Inc., through its interests in Sino-foreign joint ventures, engages in the manufacture and sale of power steering systems and other component parts for the automotive industry in the People’s Republic of China.