NEW YORK, NY -- (Marketwire) -- 06/11/12 -- Chinese internet stocks have struggled recently amidst concerns of China's slowing economy. But a recent rate cut by China's central bank, the first in nearly 4 years, signaled that the Chinese government was willing to take strong measures to help boost its economy. As a result many China-based stocks received a boost early Thursday. Five Star Equities examines the outlook for companies in China's Internet Industry and provides equity research on Youku Inc. (NYSE: YOKU) and Sohu.com Inc. (NASDAQ: SOHU).
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China's central bank, the People's Bank of China, cut benchmark interest rates by 25 basis points. One-year borrowing rates fell to 6.31 percent and deposit rates dropped to 3.25 percent.
"As the first rate cut since Dec. 2008, the surprise move sends a strong signal that the government will be more active in supporting demand and stabilizing growth," wrote Shuang Ding, Minggao Shen, and Serena Wang, Hong Kong analysts at Citi Investment Research & Analysis, in a recent note. "We see this as a shift of monetary policy tone that would help lower borrowing costs and improve confidence, increasing the chance for the economy to bottom in Q2 and rebound in Q3."
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Youku Inc. is China's leading Internet television company. Their internet television platform enables users to search, view and share high-quality video content quickly and easily across multiple devices. Youku, which stands for "what's best and what's cool" in Chinese, is the most recognized online video brand in China.
Sohu.com is China's premier online brand and indispensable to the daily life of millions of Chinese, providing a network of web properties and community based/web 2.0 products which offer the vast Sohu user community a broad array of choices regarding information, entertainment and communication. Sohu corporate services consist of online brand advertising on its matrix of websites as well as bid listing and home page on its in-house developed search directory and engine.
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