Chinese Stocks Hot: These Names Will Run
Chinese stocks are heating up in epic fashion as the U.S. stock market hits bumps on global stability worries. This is happening as U.S. equities become more and more over priced and recent economic data in China looks promising to investors. Leading the charge is Baidu Inc (NASDAQ:BIDU) trading at $197.13, +5.96 (3.12%). This is a new all-time high. While now is NOT the time to buy BIDU, there are other mid-cap and small-cap Chinese ADR's that will catch fire as the momentum spreads. Stocks like E Commerce China Dangdang Inc (NYSE:DANG) and Renren Inc (NYSE:RENN) are two Chinese plays to watch and the price action on SINA Corp (NASDAQ:SINA) today looks very promising. These China plays may be in the beginning stages of big moves in the next few weeks and should be on alert. In addition, this run should be sustainable in Chinese names into the Alibaba IPO (early August) and is quite possibly one of the reasons many ADR's are beginning to surge higher.