Shares of Chinese companies, including Baidu Inc (NASDAQ:BIDU), are trading higher as the sector rebounds from recent weakness despite continued regulatory concerns. The gaming, education and technology sectors have been under regulatory pressure this year, which has driven volatility in the overall Chinese market.
Morgan Stanley on Monday upgraded multiple names in the Chinese education space, which revived some sector sentiment.
Baidu is the largest internet search engine in China with a 75% share of the search engine market in March 2021. Baidu is a technology-driven company and has been investing in AI technology, such as autonomously driven cars.
Baidu shares were trading higher by 4.9% at $164.78 at the time of publication. Baidu has a 52-week high of $354.82 and a 52-week low of $116.41.