Asian markets received a boost over the weekend after data showed China posted its biggest trade surplus in nearly five years. China’s trade surplus grew to $33.8 billion in November, from $31.1 billion in October. Chinese exports surged 12.7 percent year-over-year in November, while imports grew just 5.3 percent. "There are signs that the global activity and trade cycle is gaining momentum, driven by the recovery in high-income countries, and China's exporters are benefiting from that," said Louis Kuijs, an economist at Royal Bank of Scotland.
Baidu Inc. (NASDAQ: BIDU) shares traded in the range of $167.01 to $173.65 Monday before settling to close at $171.90, an increase of 1.89 percent. The stock appears to be facing some resistance at $188.38 with some support at the $166.71 and $157.24 levels. Shares of Baidu have gained approximately 70.0 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 $8.62 to $9.14 Monday before settling to close at $8.65, a decrease of 4.84 percent. The stock appears to be facing some resistance at the $9.23 and $9.78 levels with some support at $8.61. Shares of Dangdang have gained approximately 105.0 percent in 2013.
More information on Dangdang and access to the free equity report can be found at:
www.WallStreetFundamentals.com/DANG
Phoenix New Media Ltd. (NYSE: FENG) shares traded in the range of $9.20 to $9.65 Monday before settling to close at $9.26, an increase of 0.65 percent. The stock appears to be facing some resistance at the $9.74 and $10.50 levels with some support at $8.99. Shares of Phoenix New Media have gained approximately 150.0 percent in 2013.
More information on Phoenix New Media and access to the free equity report can be found at:
www.WallStreetFundamentals.com/FENG
SINA Corp. (NASDAQ: SINA) shares traded in the range of $75.50 to $78.28 Monday before settling to close at $75.83, a decrease of 1.91 percent. The stock appears to be facing some resistance at the $76.08 and $78.82 levels with some support at $74.83. Shares of SINA have gained approximately 50.0 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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