A Performance Review of China Internet Stocks for March

Xiaofan Zhang submits:

Chinese Internet stocks ended March on a positive note: On average, the 42 Chinese Internet stocks (Table 1) rose 0.7% in the month. At the segment level, Online Travel, Online Video, Online Games, and Online Advertising stocks had positive average performance, while E-Commerce stocks continued to struggle. Below is my detailed analysis of each segment:

Online Travel Booking stocks advanced 7.6% on average, the most among all industry segments, as investors welcomed better-than-expected airline traffic data. Chinese airlines' total passengers rose 12.3% year-over-year during the Spring Festival travel season, according to data released by the Civil Aviation Administration of China [CAAC].. This data point suggests China's total travel spending will likely outgrow GDP in 2011, indicating a favorable macro environment for online travel booking companies such as Ctrip.com (NASDAQ:CTRP) and eLong (NASDAQ:LONG). As China's travel booking industry remains highly fragmented, I expect industry leader Ctrip to continue gaining market share

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