SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Oct 22, 2012) - New data released the last Thursday showed China's economy grew at a rate of 7.4 percent in the third quarter. Although a decline from the previous quarter it was a much smaller drop off, signaling the worst may be over for the world's second largest economy. "The expectation now is that China's economy has bottomed out and we can look forward to better results in the fourth quarter," said Francis Lun, managing director of Lyncean Holdings in Hong Kong. Five Star Equities examines the outlook on Chinese internet stocks and provides equity research on SINA Corp. (NASDAQ: SINA) and E Commerce China Dangdang Inc. (NYSE: DANG).
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Other recently released September data has also supported the notion that China's economic recovery is underway. Industrial production has increased 9.2 percent from a year-ago, and 3 percent from August, while retail sales have gained 14.2 percent from 2011.
"In the grand context of a global recession, this is an amazingly good job for a country that is so dependent on exports to the global economy," says Bosworth. "I think we are in a world where China's growth is going to moderate and I think it will stay in the range of about 7% to 8%."
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SINA provides advertising, non-advertising and free services through SINA.com, SINA.cn, Weibo.com, MVAS, and SINA products. "Our industry checks suggest strong advertiser's demand of Weibo ad system, which is off a solid start, in our view. Meanwhile, we believe bundled sales minimizes the potential cannibalization between the portal and Weibo," wrote ThinkEquity analyst Henry Guo.
Dangdang's nationwide fulfillment and delivery capabilities, high-quality customer service support and scalable technology infrastructure enable it to provide a compelling online shopping experience to customers. The company has been trading near 52-week lows due to concerns regarding China's slowing economy. Dangdang will report third quarter 2012 financial results on November 13, 2012.
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