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HK, Shanghai closed May 1st

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closed May 1, 2012 (Chinavestor) May 1st is a public holiday in Hong Kong and in mainland China. As a result, no stock exchanges were open on Tuesday in those key Asian markets for Chinese stocks. This leaves US investors with data from last night and earnings news as indicators into today's trading. Sohu.com Inc. (NASDAQ:SOHU) reported first quarter financials yesterday and fell hard on lack of bottom line growth. Not only did Sohu disappoint for current quarter but issued an even slower second quarter for net income. But top line growth looks sound and should eventually make room for more profits, some investors argue.

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Looking at major indices world wide, Hong Kong's Hang Seng Index (INDEXHANGSENG:.HSI) was not trading today just like the Shanghai Composite Index (SHA:000001). Trading will resume in Hong Kong tomorrow.

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