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. Here is how some Chinese equities reacted Tuesday:
Changyou.com Ltd. (NASDAQ: CYOU) shares traded in the range of $30.17 to $31.20 Tuesday before settling to close at $30.69, an increase of 0.62 percent. The stock appears to be facing some resistance at the $30.98 and $32.08 levels with some support at $29.99. Shares of Changyou.com have fallen approximately 3.0 percent in the past year.
More information on Changyou.com and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CYOU
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) shares traded in the range of $90.37 to $94.54 Tuesday before settling to close at $94.34, an increase of 5.79 percent. The stock appears to be facing some resistance at $95.88 with some support at the $92.22 and $89.49 levels. Shares of Qihoo 360 have gained approximately 195.0 percent in the past year.
More information on Qihoo 360 and access to the free equity report can be found at:
www.WallStreetFundamentals.com/QIHU
Sohu.com Inc. (NASDAQ: SOHU) shares traded in the range of $74.68 to $78.49 Tuesday before settling to close at $75.52, a decrease of 1.69 percent. The stock appears to be facing some resistance at the $75.88 and $78.08 levels with some support at $73.83. Shares of Sohu.com have gained approximately 55.0 percent in the past year.
More information on Sohu.com and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SOHU
YY Inc. (NASDAQ: YY) shares traded in the range of $66.40 to $72.50 Tuesday before settling to close at $67.54, a decrease of 5.41 percent. The stock appears to be facing some resistance at $69.63 with some support at the $55.29 and $50.67 levels. Shares of YY have gained over 400.0 percent in the past year.
More information on YY and access to the free equity report can be found at:
www.WallStreetFundamentals.com/YY
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