Stock Watch: Sina.com Rises on China WAP Outlook

Sina.com (Nasdaq: SINA) rose 11 7/8 to 50 1/2 Thursday after announcing an agreement to provide content to three large Chinese telecommunications companies’ wireless ventures.

Sina.com, which provides content to Chinese Internet communities worldwide, said it signed a memorandum of understanding with China Unicom, and is working with China Telecom and China Mobile Communications Corp. to deliver services including e-mail, news, financial data and weather.

Thursday, China launched its first nationwide wireless Internet system, which Sina.com President and Chief Executive Officer Wang Zhidong called “a significant milestone in China’s wireless Internet development.”

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