Sina Corporation (SINA)

[eastunder]

Chinese tech ADRs including SINA, TENCENT and Baidu Inc witnessed a surge today after Asian markets closed higher on Friday. The rally in Asia came on the back of quantitative easing by the European Central Bank (ECB) and rising oil prices in light of the International Energy Agency highlighting a bottom out. Additionally, investor sentiment in Hong Kong took a turn for the better as the People’s Bank Of China boosted the Yuan. The Hang Seng China Enterprises Index went up by 1.68%, rising for the first time in four days.

SINA Corp (NASDAQ:SINA) shares rallied by 6.5% in the early trading hours today. Earlier this month, the company unveiled its earnings results for the fourth quarter, surpassing Street estimates in terms of both top and bottom line. For the quarter, Sina earned a profit of 35 cents per share on revenue of $256.2 million compared consensus estimates of 33 cents per share and $241.73 million. Investment firm Brean Capital believes that the company will witness expansion in its margins this year and recommends investors to buy the stock on the back of Weibo’s strong performance.

http://www.bidnessetc.com/65326-sina-baidu-tencent-chinese-internet-adrs-rallying-today/