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New Year Holiday Shuts Asian Markets

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KFTC_2010 February 3, 2011 (Chinavestor) Both key China stock markets were closed in Asia in observance of the Lunar New Year. The only indication what Chinese ADRs are going to do today is coming from U.S. market sentiment. Most Asian markets - other than Chinese - ended the day lower as situation in Egypt deteriorated.

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On the China ADR front, investors continue to digest earnings of internet heavy weight Baidu.com Inc. (NASDAQ:BIDU) and its ramifications for the sector. China's largest search engine company solidified its market position over Goggle (NASDAQ:GOOG) in the fourth quarter and beat analysts' revenue and profit estimates as well.

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