Benzinga | Oct 8, 2021 12:16PM EDT

Why Baidu Shares Are Rising

Shares of several Chinese companies, including Baidu Inc (NASDAQ:BIDU), are trading higher following China's Golden Week holiday. Also, reports suggest that data showed services activity in China returned to positive levels.

Baidu and several other Chinese stocks also traded higher in yesterday's session amid a Beijing comment that its diplomat Yang Jiechi's meeting with White House National Security Adviser Sullivan was constructive.

The company's stock has increased by approximately 8% over the past five trading sessions.

Baidu is the largest Internet search engine in China with a 75% share of the search engine market in March 2021. The firm generates 68% of revenue from online marketing services and the rest from other segments.

Baidu has a 52-week high of $354.82 and a 52-week low of $126.11.