Why Baidu Shares Are Moving

Baidu Inc BIDU shares are trading lower by 4.22% to $138.87 Monday morning after Alibaba Group Holding Ltd - ADR BABA unveiled its Tongyi Qianwen ChatGPT competitor, which could rival Baidu's Ernie Bot. Broader Chinese stocks may also be lower after China conducted military drills near Taiwan.

What's Going On In Taiwan?

Our Benzinga team reported seventy-one Chinese military aircraft crossed the median line of the Taiwan Strait on Saturday in response to a meeting between the House speaker and the president of Taiwan, according to Reuters.

The response follows just days after China strongly condemned Taiwan President Tsai Ing-wen's meeting with U.S. Speaker Kevin McCarthy in Los Angeles on Wednesday. The country has often made clear its displeasure about Taiwan's contact with foreign governments...Read More

According to data from Benzinga Pro, Baidu Inc has a 52-week high of $160.88 and a 52-week low of $73.58.