Asian equities have rallied recently as the broader Asian markets have edged closer to the black in 2014 On Monday, the Shanghai Composite Index closed up (0.9 percent) for the first time this year. In 2013, the Index dropped 6.8 percent and by January 20th was down another 6.2 percent. "The A-share market has already priced in a lot of the pessimism toward the Chinese economy...Even if you think China's economy is slowing, valuations in traditional sectors like banks and household appliances are still cheap," said Huang Cuiyu, a portfolio manager with HFT Investment Management Co.
China Mobile Ltd. (NYSE: CHL) shares traded in the range of $47.77 to $48.18 Friday before settling to close at $48.08, an increase of 1.31 percent. The stock appears to be facing some resistance at the $49.14 and $49.88 levels with some support at $47.91 and $46.63. Shares of China Mobile have gained approximately 1.2 percent in the past week.
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Phoenix New Media Ltd. (NYSE: FENG) shares traded in the range of $10.10 to $10.49 Friday before settling to close at $10.30, a decrease of 1.72 percent. The stock appears to be facing some resistance at the $10.49 and $10.87 levels with some support at $10.09 and $9.08. Shares of Phoenix New Media have gained approximately 3.7 percent in the past week.
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Shanda Games Limited (NASDAQ: GAME) shares traded in the range of $6.50 to $6.60 Friday before settling to close at $6.56, an increase of 0.92 percent. The stock appears to be facing some resistance at $7.06 with some support at $6.50 and $5.98. Shares of Shanda Games have gained approximately 1.4 percent in the past week.
More information on Shanda Games and access to the free equity report can be found at:
Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) shares traded in the range of $5.90 to $6.17 Friday before settling to close at $6.01, a decrease of 1.64 percent. The stock appears to be facing some resistance at the $6.24 and $6.54 levels with some support at $5.96 and $5.73. Shares of Yingli Green Energy have gained approximately 9.0 percent in the past week.
More information on Yingli Green Energy and access to the free equity report can be found at:
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