Asian markets received a boost Monday as China’s gross domestic product fell in line with expectations for the second quarter. China’s government statistics bureau reported GDP grew 7.5 percent in the second quarter, although down from a 7.7 growth in the previous quarter it was in line with economists’ forecasts. Shanghai Composite Index (SHCOMP) increased 1 percent to close at $2,059.39, following a gain of 1.6 percent last week. "Overall, economic conditions in the first half are stable; major indicators are still within the reasonable range expected at the beginning of the year," said National Bureau of Statistics’ spokesman, Sheng Laiyun.
Baidu.com, Inc. (NASDAQ: BIDU) shares traded in the range of $97.08 to $102.28 Monday before settling to close at $101.59, an increase of 4.89 percent. The stock appears to be facing some resistance at $102.99 with some support at the $100.71 and $97.34 levels. Shares of Baidu have gained approximately 1.3 percent in 2013.
More information on Baidu and access to the free equity report can be found at: www.WallStreetFundamentals.com/BIDU
E Commerce China Dangdang Inc. (NYSE: DANG) shares traded in the range of $6.97 to $7.40 Monday before settling to close at $7.04, an increase of 1.29 percent. The stock appears to be facing some resistance at the $7.42 and $8.17 levels with some support at $6.95. Shares of Dangdang have gained approximately 69.6 percent in 2013.
More information on Dangdang and access to the free equity report can be found at: www.WallStreetFundamentals.com/DANG
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) shares traded in the range of $53.19 to $55.92 Monday before settling to close at $55.28, an increase of 4.50 percent. The stock appears to have some support at the $52.51, $51.09 and $59.80 levels. Shares of Qihoo 360 have gained approximately 86.2 percent in 2013.
More information on Qihoo 360 and access to the free equity report can be found at: www.WallStreetFundamentals.com/QIHU
SINA Corp. (NASDAQ: SINA) shares traded in the range of $56.58 to $57.92 Monday before settling to close at $57.50, an increase of 1.77 percent. The stock appears to be facing some resistance at the $58.94 and $59.53 levels with some support at $56.62. Shares of SINA have gained approximately 14.5 percent in 2013.
More information on SINA and access to the free equity report can be found at: www.WallStreetFundamentals.com/SINA
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