Youku and Sohu Shares Jump as China Cuts Interest Rates for the First Time Since 2008
June 11 2012 - 7:20AM
Marketwired
Chinese internet stocks have struggled recently amidst concerns of
China's slowing economy. But a recent rate cut by China's central
bank, the first in nearly 4 years, signaled that the Chinese
government was willing to take strong measures to help boost its
economy. As a result many China-based stocks received a boost early
Thursday. Five Star Equities examines the outlook for companies in
China's Internet Industry and provides equity research on Youku
Inc. (NYSE: YOKU) and Sohu.com Inc. (NASDAQ: SOHU).
Access to the full company reports can be found at:
www.FiveStarEquities.com/YOKU
www.FiveStarEquities.com/SOHU
China's central bank, the People's Bank of China, cut benchmark
interest rates by 25 basis points. One-year borrowing rates fell to
6.31 percent and deposit rates dropped to 3.25 percent.
"As the first rate cut since Dec. 2008, the surprise move sends
a strong signal that the government will be more active in
supporting demand and stabilizing growth," wrote Shuang Ding,
Minggao Shen, and Serena Wang, Hong Kong analysts at Citi
Investment Research & Analysis, in a recent note. "We see this
as a shift of monetary policy tone that would help lower borrowing
costs and improve confidence, increasing the chance for the economy
to bottom in Q2 and rebound in Q3."
Five Star Equities releases regular market updates on companies
in the China's Internet Industry so investors can stay ahead of the
crowd and make the best investment decisions to maximize their
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Youku Inc. is China's leading Internet television company. Their
internet television platform enables users to search, view and
share high-quality video content quickly and easily across multiple
devices. Youku, which stands for "what's best and what's cool" in
Chinese, is the most recognized online video brand in China.
Sohu.com is China's premier online brand and indispensable to
the daily life of millions of Chinese, providing a network of web
properties and community based/web 2.0 products which offer the
vast Sohu user community a broad array of choices regarding
information, entertainment and communication. Sohu corporate
services consist of online brand advertising on its matrix of
websites as well as bid listing and home page on its in-house
developed search directory and engine.
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