The Shanghai market closed up 1.5% at 5,023.10 on Friday, reaching about 5,000 for the first time in more than seven years, according to the Wall Street Journal. The market closed above 5,000 Friday after the Shanghai index fell 5% midday on Thursday.
The milestone mark for the index helped bring up a number of Chinese stocks.
SouFun is a Chinese online real estate portal. The company also operates websites dedicated to home furnishing and improvement.
About 12.9 million shares of SouFun were traded during trading hours Friday, above the company's average trading volume of about 10.4 million shares a day.
TheStreet Ratings team rates SOUFUN HLDGS LTD as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOUFUN HLDGS LTD (SFUN) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: