NEW YORK, NY--(Marketwire -02/15/12)- Chinese Internet stocks have been on the upswing of late, outperforming the S&P 500 by a sizeable margin over the last month. Over that period, TickerSpy's Chinese Internet Stocks Index (CHDOT) is up more than 9 percent -- helping Chinese shares traded in New York to a five-month high, Bloomberg reports. Five Star Equities examines investing opportunities in China's Internet Sector and provides Stock research on Youku, Inc. (NYSE: YOKU - News) and Sohu.com Inc. (NASDAQ: SOHU - News). Access to the full company reports can be found at:
Chinese internet stocks listed in the U.S. often move in accordance with investor sentiment towards China's economy. According to a recent report from Barron's "Chinese Internet stocks are prominently listed on U.S. exchanges, and are among the most widely-held Chinese stocks." Fears of a hard economic landing in China pushed shares of internet firms towards 52-week lows in the early stages of 2012. However recent measures from China's government have restored some optimism regarding the direction of China's economy.
China's economy expanded by 9.2 percent in 2011 from a year earlier and 8.9 percent year-on-year in the fourth quarter, according to the National Bureau of Statistics (NBS). "There is not likely to be any dramatic decline in China's economy this year and a soft landing will be achieved," Pan Xiangdong, chief economist with China Galaxy Securities, said in an interview with Xinhua.
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The number of those accessing the Internet grew 12.2 percent last year, said the China Internet Network Information Center. There were 356 million mobile Internet users in the country by the end of 2011, a year-on-year increase of 17.5 percent. Even still, the proportion of China's population who are Internet users, 40 percent, is low compared with that of developed Asian countries -- for example, the Internet analysis firm Miniwatts Marketing Group says that more than 70 percent of the Japan, South Korea and Singapore population are online.
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