Following a big overnight rally in Hong Kong (followed a 3-day holiday during which Shanghai rallied), beaten-down Chinese Internet and mobile stocks have soared in U.S. trading today.
The biggest gainers include many names that are far below their 2014 highs: The group includes Qihoo (QIHU +11.17%), YY (YY +14.73%), Taomee (TAOM+11.50%), Sina (SINA +11.48%), and Weibo (WB +13.17%).
Mobile game publishers Sky-mobi (MOBI +16.01%), China Mobile Games (CMGE +13.11%), and iDreamSky (DSKY +20.31%) are also sharply higher, as are online real estate plays SouFun (SFUN +11.63%), E-House (EJ +6.12%), and Leju (LEJU +7.81%).
Giants Alibaba (BABA +3.87%) and Baidu (BIDU +4.4%) aren’t being left out. Neither are Youku (YOKU +14.52%), 21Vianet (VNET +7.95%), Momo (MOMO+6.38%), Sohu (SOHU +6.11%), Changyou (CYOU +6.73%), Dangdang (DANG+6.19%), Vipshop (VIPS +4%), JD.com (JD +5.35%), Jumei (JMEI +10.23%), Sungy Mobile (GOMO +5.66%), China Techfaith (CNTF +3.06%), and KongZhong (KZ+3.56%).
Below are charts for YY and QIHU. Both stocks have been trading down until March 2015 and are now on an uptrend.
YY Inc
Currently trading: 65.28
Analysts median target: 89
QIHU:
Currently trading: 60.53.
Analysts mean target: 77.
Comments
Log in or sign up to join the conversation.