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Actionable news in SINA: Sina Corporation,

Sina Jumps Most Since ’04 on CEO’s $456 Million Investment

Sina Corp. surged the most in 11 years after the Chinese Internet company said its chief executive officer has agreed to buy $456 million of new shares.

The stock rallied 23 percent to $50.21 in New York on Monday. Trading volume of 13 million shares was more than 8 times the daily average of the past three months.

The stock jumped after Sina said in a statement that Chairman and CEO Charles Chao has agreed to buy 11 million shares for $41.49 apiece, the average closing price for the 30 trading days through Friday. Prior to Monday’s...