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Market Chatter: Baidu Plans Hong Kong Listing for Semiconductor Unit

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Baidu (BIDU) expects to list its chip unit Kunlunxin Technology in Hong Kong this year, The Wall Street Journal reported Wednesday, citing Chief Financial Officer Henry He.

The CFO said a spinoff would make Kunlunxin more of a "neutral player" in the market, making it easier to acquire external clients, the report said.

Baidu did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $135.31, Change: $-1.41, Percent Change: -1.03%

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Top Midday Stories: Alphabet Upsizes Equity Capital Raise to $84.75 Billion; SpaceX Planning $135 a Share IPO

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Google to See Variable Margins, Cloud Segment Growth Through 2028, UBS Says

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Apple Developer Conference Unlikely to Be Positive Catalyst for Shares, UBS Says

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