DDL - Alibaba other China stocks sink after U.S. says speculation on China stock listings premature (update)

Update 11:52am: Adds confirmation of statement from PCAOB, talking points at bottom. Alibaba (NYSE:BABA) and several other Chinese tech stocks dropped after a report that the U.S. audit watchdog said speculation on a deal that would prevent hundreds of Chinese companies from being removed from U.S. exchanges is "premature." The Public Company Accounting Oversight Board said that while its meeting with Chinese regulators, it's not clear if Chinese authorities will agree to permit U.S inspectors to fully review audit papers of companies, the PCAOB said in statements confirmed by Seeking Alpha. The regulator said a potential agreement would be a "first step." The story was earlier reported by Bloomberg News. The PCAOB comments come after China's Vice Premier Liu He made comments last week in an attempt to calm investor fears and said it would continue "to support various types of companies to list overseas," noting that it would work with U.S. regulators, including

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Alibaba, other China stocks sink after U.S. says speculation on China stock listings premature (update)