Uncertainty in China's Internet Sector Weighs on Shares of Baidu and Youku
June 23 2011 - 7:16AM
Marketwired
A mere two months ago, Chinese internet firms were some of the
strongest performers on Wall Street. China boasts the largest
number of internet users, and given the nation's strict censorship
laws which minimize competition, companies such as Baidu and Youku
were considered promising growth stories. Shares throughout the
sector have plummeted since May however, as concerns about a new
bubble in the tech sector has spread to China's Internet industry.
The Bedford Report examines the outlook for companies in China's
Internet Sector and provides stock research on Youku.com, Inc.
(NYSE: YOKU) and Baidu, Inc. (NASDAQ: BIDU). Access to the full
company reports can be found at:
www.bedfordreport.com/YOKU
www.bedfordreport.com/BIDU
A recent report from The Wall Street Journal argues that Chinese
internet stocks are suffering from concerns about a slowdown in
China's economy -- reflected in the fall of the country's benchmark
stock index. Standard & Poor's said the performance in the past
year of Chinese Internet companies with a market value of more than
$100 million suggested the companies "might have been in a bubble
that burst."
The Bedford Report releases investment research on the Chinese
Internet Industry so investors can stay ahead of the crowd and make
the best investment decisions to maximize their returns. Take a few
minutes to register with us free at www.bedfordreport.com and get
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Competition remains scarce for Baidu and Youku, however. China's
government heavily regulates the internet, and while this has drawn
significant scrutiny from the West, government officials cite its
heavily regulated internet as the reason why the county is seeing
falling cybercrime year on year. China promoted its controversial
'Great Firewall' and its deeply regulated internet as key to
stemming the cyber terrorist threat.
Under China's internet censorship policies Facebook, Twitter,
Youtube and several other marquee US websites are blocked. This has
benefitted the so-called "Youtube of China" Youku.com. Last month
Youku said that first quarter revenues more than doubled compared
to the year ago period.
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