Asian markets surged Friday after data released by the National Bureau of Statistics showed China’s gross domestic product grew 7.8 percent in the third quarter. China’s GDP grew 7.5 percent in the second quarter and 7.7 percent in the first. Separately, figures released Friday also showed monthly industrial output and retail sales grew by 10.2 percent and 13.3 percent in September when compared to a year ago. China’s 2013 annual growth target was set at 7.5 percent. The nation has not failed to surpass its growth target since 1998.
Baidu Inc. (NASDAQ: BIDU) shares traded in the range of $157.00 to $166.39 Friday before settling to close at $165.91, an increase of 7.85 percent. The stock appears to be facing some resistance at $170.04 with some support at the $160.31 and $153.92 levels. Shares of Baidu have gained approximately 65.0 percent in 2013.
More information on Baidu and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BIDU
Renren Inc. (NYSE: RENN) shares traded in the range of $3.69 to $3.96 Friday before settling to close at $3.77, an increase of 2.72 percent. The stock appears to be facing some resistance at the $3.90 and $4.12 levels with some support at $3.70. Shares of Renren have gained approximately 10.0 percent in 2013.
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 $89.20 to $92.83 Friday before settling to close at $91.07, an increase of 3.45 percent. The stock appears to be facing some resistance at $96.20 with some support at the $90.48 and $88.54 levels. Shares of SINA have gained approximately 80.0 percent in 2013.
More information on SINA and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SINA
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) shares traded in the range of $88.62 to $94.79 Friday before settling to close at $94.67, an increase of 8.06 percent. The stock appears to be facing some resistance at $106.65 with some support at the $92.22 and $86.27 levels. Shares of Qihoo 360 have gained approximately 220.0 percent in 2013.
More information on Qihoo 360 and access to the free equity report can be found at:
www.WallStreetFundamentals.com/QIHU
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