At the annual parliament meeting Wednesday China’s Premier Li Keqiang set an economic growth of 7.5 percent. "Given that GDP growth is expected to be 7.5% for 'longer', we see this target as supportive for the Asian region, trade, and for commodity currencies," said Annette Beacher, an analyst at TD Securities in Singapore. On Thursday, the Shanghai Composite Index gained 0.3 percent to close at 2,059.58, its first increase in three days. Here is how some Asian equities reacted Thursday:
China New Borun Corp. (NYSE: BORN) shares traded in the range of $3.51 to $4.31 Thursday before settling to close at $3.65, an increase of 11.96 percent. The stock appears to have some support at the $3.61, $3.25, and $2.89 levels. Shares of China New Borun have gained approximately 45.0 percent year-to-date.
More information on China New Borun and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BORN
China Sunergy Co. Ltd. (NASDAQ: CSUN) shares traded in the range of $5.65 to $6.72 Thursday before settling to close at $6.27, an increase of 10.78 percent. The stock appears to be facing some resistance at the $6.87 and $7.11 levels with some support at $6.25 and $5.75. Shares of China Sunergy have gained approximately 4.0 percent year-to-date.
More information on China Sunergy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CSUN
Hanwha Solarone Co. Ltd. (NASDAQ: HSOL) shares traded in the range of $3.08 to $3.53 Thursday before settling to close at $3.45, an increase of 12.38 percent. The stock appears to be facing some resistance at the $4.06 and $5.23 levels with some support at $3.42 and $3.16. Shares of Hanwha Solarone have gained approximately 25.0 percent year-to-date.
More information on Hanwha Solarone and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HSOL
Lightinthebox Holding Co. Ltd. (NYSE: LITB) shares traded in the range of $8.13 to $9.22 Thursday before settling to close at $9.19, an increase of 13.46 percent. The stock appears to be facing some resistance at the $9.47 and $9.80 levels with some support at $9.02 and $8.69. Shares of Lightinthebox have gained approximately 13.0 percent year-to-date.
More information on Lightinthebox and access to the free equity report can be found at:
www.WallStreetFundamentals.com/LITB
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