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Chinese tech stocks, recent IPOs rebound strongly

  • Hit hard on multiple trading days last week, high-beta Chinese Internet and solar stocks are flying higher amid a tech rally.
  • Leading Chinese Internet gainers: GOMO +14.8% (tumbled last week post-earnings). BITA +10.2%. WUBA +8.9%. VIPS +6.4%. SFUN +6.4%. WBAI +6.3%. CCIH +5.9%. ATHM +5.8%.
  • Notable Chinese solar gainers: CSUN +9.7%. JKS +8.9%. TSL +5.4%. YGE +4.1%. JA Solar is rallying with the help of a bullish Northland coverage launch.
  • Recent IPOs King Digital (KING +4.5%) and Castlight Health (CSLT +16.1%) are among the winners. King remains 16% below its $22.50 IPO price. Castlight is 54% above its $16 IPO price, but well below a post-IPO high of $41.95.

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