On Monday, China's National Bureau of Statistics reported an economic growth of 7.7 percent for 2013, which equal to its growth rate in 2012. The nation’s economy grew 7.7 percent in the fourth quarter of 2013, slightly lower than the 7.8 percent seen in the previous quarter. As China’s leaders work to reshape the economy, the nation’s economic growth is expected to continue to slow this current quarter. Economists have predicted China to report a growth of 7.5 percent in March. "China's leadership has recognized that China needs to change its growth model," said former World Bank President and current head of Goldman Sachs's international advisory board, Robert Zoellick. "It won't be a Big Bang process. We'll see, in Chinese fashion, a series of steps, which if successful will pick up momentum," stated Mr. Zoellick.
Baidu Inc. (NASDAQ: BIDU) shares traded in the range of $168.87 to $172.93 Friday before settling to close at $170.14, a decrease of 1.65 percent. The stock appears to be facing some resistance at the $173.07 and $180.43 levels with some support at $168.08. Shares of Baidu have gained approximately 55.0 percent in the past year.
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 $10.56 to $11.36 Friday before settling to close at $10.63, a decrease of 6.01 percent. The stock appears to be facing some resistance at the $10.96 and $11.61 levels with some support at $10.56. Shares of Dangdang have gained approximately 145.0 percent in the past year.
More information on Dangdang and access to the free equity report can be found at:
www.WallStreetFundamentals.com/DANG
Renren Inc. (NYSE: RENN) shares traded in the range of $3.20 to $3.29 Friday before settling to close at $3.20, a decrease of 2.74 percent. The stock appears to be facing some resistance at the $3.22 and $3.35 levels with some support at $3.04. Shares of Renren have fallen approximately 7.0 percent in the past year.
More information on Renren and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RENN
SINA Corp. (NASDAQ: SINA) shares traded in the range of $74.48 to $78.17 Friday before settling to close at $75.02, a decrease of 6.90 percent. The stock appears to be facing some resistance at the $75.92 and $79.05 levels with some support at $74.83. Shares of SINA have gained approximately 35.0 percent in the past year.
More information on SINA and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SINA
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