More than half of Asian firms have reported disappointing Q2 earnings so far.Of the companies in the MSCI Asia-Pacific index,54% disappointed,as compared with 50% in Q1.Nonetheless,Asian shares rose decisively in early Monday trading,cheered by an uptick in US hiring and hopeful sounds from Greece.
In the Chinese technology sector,Alicia Yap of Barclays said Baidu is definitely a buy because of its market dominance.She also likes NetEase,Inc.Tencent's margins are of concern to her.In general,large customers are being cautious with their pocketbooks.
At the London Olympics Sunday,China still led the medals count,with 61 total and 30 gold;the US stayed second with 60 total and 28 gold;Great Britain ranked third with 37 total and 16 gold;Russia held fourth with 37 total and 4 gold;and Japan came in fifth at 27 total and 2 gold.Jamaica's Usain Bolt retained his 100 meter sprint title;Sanya Richards-Ross became the second US woman in history to take the gold in the 400 meter race.
Romanian gymnast Sandra Izbasa secured the gold in the women's vault final with a steady showing,upsetting media favorite McKayla Maroney of Team USA,who was awarded silver when she landed on her backside.Maria Paseka won the bronze medal.
NetEase,Inc.(NTES),Baidu(BIDU),Barclays(BCS)
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