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Chinese Internet Stocks Receive Boost as China Cuts Rates -- Apple to add Baidu Search Engine on iPhones in China

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 over 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, Inc. (NASDAQ: BIDU) and E Commerce China Dangdang Inc. (NYSE: DANG).

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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."

Five Star Equities releases regular market updates on companies in the China's Internet Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Bloomberg recently reported that Apple plans to include Baidu's search engine on their iPhones in China. The announcement could be made as early as next week. Baidu currently makes up roughly 80 percent of the search engine market in China. "This is definitely going to help Baidu," said Joshua Maa, chief executive officer at Madhouse Inc., an advertising company whose specialty is marketing on mobile devices. Mr. Maa added that deal will provide a boost to the company's wireless advertising business.

E-Commerce China Dangdang is a leading business-to-consumer e-commerce company in China. On its website, the Company offers more than 790,000 books and other media products as well as selected general merchandise products including beauty and personal care products, home and lifestyle products, baby, children and maternity products, apparel, digital and electronics products.

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