Last night Baidu (BIDU, qoute) reported $8.40/share comp EPS for 4Q 2013 which beat the street by a small amount, but the key to the report was a 1Q outlook that gives investors reason to believe more growth is coming.
The Chinese Internet space continues to trade well, in fact our EMCHI Index has touched fresh 52 week highs as index heavyweight Baidu (22% of index) has seen a technical breakout from the lows of Feb 5th.
Yandex (YNDX, quote), the Google of Russia, is +4.5% today and now +9% in 3 days after the drubbing of EM and Russia saw a lot of momentum players sell stock and some directional players shorting stock.
China Internet Index (EMCHI) off another -4% today with the escalation of risk in markets and still no resolution on the accounting issues that are front and center.
As you track the Emerging Money China Intenet Index (EMCHI), we highlight news from key component, Tencent.
- Air pollution inspectors find problems in 2,808 companiesSource: China.orgPublished on 2017-04-23
- Two heroin smugglers arrested in SW ChinaSource: China.orgPublished on 2017-04-23
- Officials in North China punished over sewage pitsSource: China.orgPublished on 2017-04-23
- Chinese federation honors female models, groupsSource: China.orgPublished on 2017-04-23
- Air pollution inspectors find problems in 2,808 companies