Chinese Internet stocks rally after Twitter S-1 filed


Chinese Internet firms, already shown plenty of love by momentum traders this year, are rallying again following the release of Twitter's public S-1.

Chinese microblogging leader Sina (SINA +4%) is among the gainers, and so are fellow social networking plays YY (YY +3.2%) and Renren (RENN +9.7%). But several other names are also taking part in the rally: BIDU +2%. NQ +2.7%. CYOU +6.9%. DANG +4.1%. SOHU +5.4%. SFUN +5.8%. AMAP +3.4%. QIHU +2%.

Twitter mentioned in its S-1 78% of the 218.3M monthly active users it had at the end of Q2 were outside the U.S. But few of them are in China, where its services (like Facebook's) are generally blocked.

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Comments (2)
  • Michael Bryant
    , contributor
    Comments (6749) | Send Message
     
    So why the rally????????????
    4 Oct 2013, 05:52 PM Reply Like
  • Lucas_Wyrsch
    , contributor
    Comments (681) | Send Message
     
    Because of Sina Weibo, the Chinese Twitter and Facebook hybrid

     

    http://bit.ly/GBACuO

     

    Sina Weibo is a Chinese microblogging (weibo) website.

     

    Akin to a hybrid of Twitter and Facebook, it is one of the most popular sites in China, in use by well over 30% of Internet users, with a market penetration similar to what Twitter has established in the USA.

     

    It was launched by SINA Corporation on 14 August 2009, and has 503 million registered users as of Dec 2012.

     

    About 100 million messages are posted each day on Sina Weibo.
    5 Oct 2013, 09:02 AM Reply Like
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