Why Baidu Shares Are Rising

Shares of several Chinese stocks, including Baidu Inc BIDU, are trading higher following the release of Chinese September trade data.

China’s exports in U.S. dollar terms surged 28.1% year-over-year in the month of September to $305.74 billion, beating the 21% growth figure expected by the Reuters poll.

Baidu is the largest Internet search engine in China with a 75% share of the search engine market in March 2021 as per Statcounter. The firm generates around 68% of revenue from online marketing services. Baidu is a technology-driven company and has been investing in AI technology, such as autonomously driven cars.

Baidu has a 52-week high of $354.82 and a 52-week low of $126.38.