Youku and Tudou Lead Chinese Media Stocks to 1.6% Weekly Gain
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Youku and Tudou Lead Chinese Media Stocks to 1.6% Weekly Gain
South Korean actress Go Joon Hee recently shot a group photo of a fashion brand.She was wearing a variety of fashion to show sexy legs, mature and elegant posture and facial expressions to show her charm.
The Cain China Media Index (CCMI) gained nearly 1.6 percent last week, outpacing the S&P 500, Shenzhen and Shanghai indices during a mixed week in the global equity markets.
CCMI vs. U.S. and Chinese Stock Market Indices (May 18, 2012 = 100)
China’s major Youtube lookalikes Youku (YOKU) and Tudou (TUDO) led the index with 20 percent and 18 percent respective gains on news of Tudou’s stellar first quarter results. The two companies are in the process of merging, and with Tudou’s scorching 77 percent Q1 revenue increase and narrowing losses, investors jumped in to drive the stock to its best weekly performance since early March.
5 of the 6 online media stocks in the CCMI gained ground last week. In addition to YOKU and TUDO, Phoenix New Media (FENG) also performed extremely well, posting a 9 percent gain as it beat analyst estimates with Q1 earnings of 7 cents per share.
Motion picture stocks fell by an average of 2.2 percent for the week, with only the small cap Taomee (TAOM) managing to eke out a gain. All 3 of the index’s broadcasting & cable stocks also fell, while advertising and game stocks managed modest gains.
In all, decliners outnumbered gainers 10 to 9 (with one stock, Shanda Games, flat for the week). However, stocks trading on the U.S. NYSE and NASDAQ exchanges were mostly gainers (8 to 3), while all but one of the index stocks trading on the Chinese Shanghai and Shenzhen exchanges declined.
Tudou and Youku may be good buys at this stage, with both stocks having broken above their 50 day moving averages with convincing volume. There had been skepticism in the market about the two companies’ ability to contain costs and turn profitable, but these concerns now look to have been laid to rest.
Robert Cain is a producer and entertainment industry consultant who has been doing business in China since 1987. He can be reached at rob@pacificbridgepics.com and at www.pacificbridgepics.com.
Cast members promote wuxia drama 'The Four'
Director Gordon Chan, along with cast members Liu Yifei, Anthony Wong, Wu Xiubo and Deng Chao, made an appearance at the event.
Co-directed by Gordon Chan and Janet Chun, the film "The Four" is an adaptation of Wen Rui'an's popular novel.
At the news conference, Gordon Chan revealed that the second and the third installments are set to kick off shooting soon, a move to complete the trilogy.
The cast and crew of the coming films have already arrived at the Hengdian Film Base located in Zhejing Province, prepared for the new projects. "The Four" also stars Collin Chou, Ronald Cheng and Jiang Yiyan.
It is expected to hit cinemas on July 12.
Source: Xinhua/CRI
Ye Zixuan
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