Chinese Stocks Slump on Weak Manufacturing Data and Potential Trade Disputes Between Japan
September 24 2012 - 8:20AM
Marketwired
Chinese stocks slumped last Thursday after week economic data sent
the Shanghai Composite Index to its lowest level in nearly four
years. The Shanghai Index fell to its lowest level since February
2009 after the HSBC Flash China manufacturing purchasing managers'
index signaled a 11th month of contraction in September. Five Star
Equities examines the outlook for Chinese Internet stocks and
provides equity research on Qihoo 360 Technology Co. Ltd. (NYSE:
QIHU) and Youku Tudou Inc. (NYSE: YOKU).
Access to the full company reports can be found at:
www.FiveStarEquities.com/QIHU www.FiveStarEquities.com/YOKU
China's gross domestic product has contracted for six
consecutive quarters. The country's GDP in the second quarter
expanded 7.6 percent, which was the smallest growth in three years.
Tensions between China and Japan, the second and third largest
economies in the world, over disputed islands could pose a major
threat for their bilateral trade market, which has grown to over
$340 billion in the last decade.
"There's concern the islands incident may escalate and exports
may be impacted," Jianghai Securities Co. analyst, Xu Shengjun,
said by phone Bloomberg reported. "The economic data don't look
good. The stock market won't improve in the near term with these
concerns."
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Internet stocks so investors can stay ahead of the crowd and make
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Qihoo 360 Technology is a leading Internet company in China. The
Company is also the number one provider of Internet and mobile
security products in China as measured by its user base, according
to iResearch. The company entered the online search engine market
on August 16.
Youku is China's leading Internet television company. Their
internet television platform enables users to search, view and
share high-quality video content quickly and easily across multiple
devices. Apple announced that the next versions of Apple's OS X
desktop operating system and iOS mobile operating system will
integrate with services from Youku.
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