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Chinese Internet stocks up strongly after Shanghai rally

May 22, 2015 12:09 PM ETMoatable, Inc. (MTBL) StockSFUN, CQQQ, QQQC-OLD, YOKU, DANG, MTBL, KWEB, WB, DSKY, MOMOBy: Eric Jhonsa, SA News Editor11 Comments
  • The Shanghai exchange rose 2.8% overnight to a 7-year high, and has once more taken U.S.-traded Chinese Internet/mobile names higher with it.
  • Major gainers include Renren (RENN +10.4%), Youku (YOKU +14.1%), SouFun (SFUN +10.8%), Weibo (WB +4.4%), Dangdang (DANG +7.9%), Momo (MOMO +9.7%), and iDreamSky (DSKY +4.9%). Ctrip and eLong are also up sharply, following news an investor group featuring Ctrip bought a 62.4% stake in eLong from Expedia.
  • Renren, whose stable of online P2P lending investments has been drawing attention, is now up 31% since its May 12 Q1 report. Youku is up 33% since providing strong Q2 guidance to go with mixed Q1 results on Wednesday evening. Momo is up 44% since delivering market-pleasing Q1 results on Monday afternoon.
  • ETFs: KWEB, CQQQ, QQQC-OLD

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