Chinese Stocks Surge on Surprisingly Good Factory Data

Sep 07, 2016, 09:00 ET from

NEW YORK, September 7, 2016 /PRNewswire/ --

Shares of Chinese companies and the indexes in Hong Kong have jumped to week highs after China's factory gauge data surprised analysts. Factory production has unexpectedly increased to the levels of 2014. Despite China's head state planner Xu Shaoshi claims that the country has, "great difficulties that remain in meeting goals for investment and trade." Inc. (OTCQB: CIIX), Alibaba (NYSE: BABA), Baidu (NASDAQ: BIDU), Momo Inc. (NASDAQ: MOMO), SINA Corp. (NASDAQ: SINA) Inc. (OTCQB: CIIX) is a Chinese company engaged in providing real-time market commentary and analysis in the Chinese language. The Company offers subscription services to provide education about investing, recent news and analysis on the stock market. The company announced it has formed a strategic partnership with Tiger Brokers, the largest online financial brokerage in China. Since the brokerage firm was founded in 2015, Tiger Brokers has seen rapid growth in monthly trading with volume increasing to $800 million USD. Inc. (CIIX) recently commented on their live streaming service, claiming it helped the company reach a milestone in booking record subscription revenues in the past quarter. The company has offices in the United States and in China.

Sales of counterfeit goods has always been an issue on Alibaba (NYSE: BABA) online trading platform, Taobao, for quite some time now. Many trading groups has urged the Chinese e-commerce giant to take action against counterfeit goods.

Led by CEO and founder Jack Ma, the company will be working with International Anti-counterfeiting coalition, one of the world's largest group known for tackling fakes goods. Ma genuinely believes that the company is more than capable of taking down fake goods with their technology on its online platform and claims that "We can solve the problem better than any government, any organization, and any person in the world." Shares of Alibaba has continued to rise as the company has reached new 52week highs of $104.05.

Shares of Baidu (NASDAQ: BIDU) surged 5% after the company announced a European expansion. The technology company has already capitalized on the Chinese since Google was ousted in 2010, making exponential grows in China impossible, other markets become key venture opportunities. Baidu will have to make sure that besides the traditional search engine the company will be able to diversify it's portfolio of services, to successfully penetrate forging markets.

Momo Inc. (NASDAQ: MOMO) shares increased in value almost 66% in one month. On September 6th the company's stock was upgraded by investment analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating in the bank's research report. The Company's Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners.

SINA Corp. (NASDAQ: SINA) shares surged 45% in a month following a strong earnings report and an announcement that its board of directors has authorized and approved the Company's distribution of shares of Weibo Corporation to the Company's shareholders on a pro rata basis. SINA is the online media company serving China and the global Chinese communities.

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