00:00It's Benzinga bringing Wall Street to Main Street.
00:02Baidu's shares fell in pre-market trading on Wednesday after declining 2.5% in Tuesday's
00:08regular session, tracking broader weakness in Chinese technology stocks and Hong Kong markets.
00:13The Hang Seng Index and Hang Seng Tech Index dropped amid concerns over potential tax changes,
00:18according to the South China Morning Post, with Tencent and Alibaba also falling.
00:24Pressure on Baidu increased after Alibaba announced a 3 billion yuan,
00:28or $432 million, AI promotion campaign for its Quinn app during the Lunar New Year,
00:34compared with Baidu's planned 500 million yuan in incentives.
00:38Baidu backed Apollo Goh recently partnered with Uber to offer robot access in London
00:42and reported 250,000 paid rides per week.
00:46Investors are awaiting Baidu's earnings report on February 26th.
00:50For all things money, visit Benzinga.com.
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