Baidu (BIDU) and other China stocks soared Wednesday as investors stormed Hong Kong’s stock market, sending the benchmark Hang Seng Index to its highest point since 2008 and setting record trading volumes. Recent government stimulus efforts and new initiatives allowing mutual funds to buy shares in Hong Kong using a new trading link contributed to the investment surge, according to the Wall Street Journal. China is taking steps to bolster its
Google (GOOGL) will again dominate global search ad revenue this year, says eMarketer, but Baidu is growing faster as more Chinese citizens shop online. The research firm says Google’s share of global search ad revenue will slip this year, but barely, to 54.5% from 54.7%. This is despite some solid growth in mobile search. Google’s ban in China is boosting Baidu (BIDU), China’s No. 1 search firm. Baidu will capture 8.8% of worldwide search ad
Baidu (BIDU) is China’s dominant search engine, but its stock has been stuck below its 50-day moving average. The 50-day line can be a key area of support, where mutual funds and other big institutions step in to buy shares. But it can also be a technical resistance level. Baidu shares peaked at 251.99 intraday on Nov. 13. Since that time, the stock has been in a downtrend, lagging the general market. Since early December, Baidu has struggled to