Wall Street preps for more Chinese dotcom listings
Updated: 2014-03-06 02:12
By Gao Yuan (China Daily)
|
|||||||||||
Expectation has prompted shares in nations Internet firms to rise
The price of shares in most United States-listed Chinese Internet companies surged over the past week after quarterly reports beat investors' expectations.
|
|
|
Shares in Dangdang Inc, a US-listed e-commerce website best-known for online book-selling, rose by more than one-third on Feb 27, hours after the company said it has returned to profitability for the first time since 2011.
Peggy Yu, the executive chairwoman of Dangdang, said the company plans to drive growth in general merchandise, books and media segments this year.
Also on Feb 27, video website Youku Tudou Inc, listed on the New York Stock Exchange, reported a 42 percent year-on-year revenue growth for the fourth quarter.
The company's revenues were 901.3 million yuan during the October-December period.
The price of shares in the nation's top online video portal increased by 3 percent on Feb 27.
Internet firms, including Youku and Dangdang, were leading the surge of US-listed Chinese companies. Dangdang rose 49 percent and Youku extended its monthly gain to 15 percent in February.
The most-traded Chinese stocks in the US rallied 5.4 percent to 102.37 in February, according to the Bloomberg China-US Equity Index.
Chinese dotcoms started becoming popular again among overseas investors late last year after a series of financial scandals and short selling in 2011 damaged Chinese Web companies' reputations.
Related Stories
Health service seeks IPO on Nasdaq 2014-03-05 09:02
Flawed IPO reform crippling market: Experts 2014-03-05 09:02
Health care on top of China's IPO world 2014-03-03 21:23
2014: The season of the Chinese IPO? 2014-03-03 12:00
Chinese companies are flocking to US for IPOS 2014-02-27 08:49
Sina Weibo mulls IPO 'relatively soon' 2014-02-25 21:33
Today's Top News
Premier puts the accent on reform
Military spending boost moderate
NATO-Russia joint mission halted
Li calls for leaner, more responsible government
Talks on Ukraine crisis on course
Iceland to work closer with China on Arctic development
What will China be like in 10 years?
Li opens congress with strong first report
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Smoke-free two sessions |
Course for reform charted |
Terror attack survivors recount nightmare |
Mandarin or dialect? |
Landing scare grounds homemade planes |
Scientists search for clear answers on smog |