Asian markets rose Tuesday on optimism of stimulus measures. The Shanghai Composite Index gained 1.92 percent to close at 2,098.28. Recent economic data has suggested China will need additional stimulus measures to meet its growth target of 7.5 percent. "There’s speculation the government will introduce some measures to stabilise growth as the market expects March data to be poor," said Wang Weijun, a strategist at Zheshang Securities Co. Here is how some Chinese-based equities reacted Tuesday:
Ctrip.com International, Ltd. (NASDAQ: CTRP) shares traded in the range of $52.10 to $55.74 Tuesday before settling to close at $55.48, an increase of 10.41 percent. The stock appears to be facing some resistance at the $55.75 and $59.19 levels with some support at $54.24 and $52.52. Shares of Ctrip.com have gained approximately 12.0 percent year-to-date.
More information on Ctrip.com and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CTRP
E Commerce China Dangdang Inc. (NYSE: DANG) shares traded in the range of $12.50 to $13.15 Tuesday before settling to close at $12.92, an increase of 3.19 percent. The stock appears to be facing some resistance at the $13.20 and $13.78 levels with some support at $12.00 and $11.61. Shares of Dangdang are up approximately 35.0 percent year-to-date.
More information on Dangdang and access to the free equity report can be found at:
www.WallStreetFundamentals.com/DANG
Sungy Mobile Ltd. (NASDAQ: GOMO) shares traded in the range of $19.16 to $21.00 Monday before settling to close at $20.89, an increase of 9.60 percent. The stock appears to be facing some resistance at the $22.56 and $24.61 levels with some support at $19.62 and $16.13. Shares of Sungy Mobile are up approximately 2.0 percent year-to-date.
More information on Sungy Mobile and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GOMO
Vipshop Holdings Ltd. (NYSE: VIPS) shares traded in the range of $129.70 to $145.09 Tuesday before settling to close at $142.64, an increase of 11.12 percent. The stock appears to be facing some resistance at the $142.90 and $150.74 levels with some support at $133.86 and $126.67. Shares of Vipshop are up approximately 70.0 percent year-to-date.
More information on Vipshop and access to the free equity report can be found at:
www.WallStreetFundamentals.com/VIPS
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