8 Chinese Stocks That Soared Last Week
Chinese stocks have had an off year, but they seem to be coming on strong in the end.
There were several stocks from the world's most populous nation that posted double-digit percentage gains last week. That's an impressive feat given the roughly 2% drop across the major stateside exchanges.
Let's take a closer look at eight stocks that soared last week.
BCD Semiconductor Manufacturing
BCD Semiconductor was the biggest gainer among all stateside-trading stocks last week, nearly doubling after Texas-based Diodes agreed to buy the Shanghai company in a $151 million deal. You know that Chinese stocks are cheap when a company can agree to pay more than double what a stock is going for in the open market yet the acquiring company also rises.
Yongye's pop came entirely on Friday after the Chinese fertilizer maker secured a loan to fulfill its plan to take itself private. Once again, China is proving how cheap it is. Outsiders may have their doubts about the underlying assets or the truth behind reported financials with some Chinese companies, but Yongye's CEO -- with help from Morgan Stanley -- had no problem lining up the financing to cash out public investors.
E-House has been a roller coaster. The stock soared 40% three weeks ago after the real estate agency's board authorized the sale of stock to company executives that will use the proceeds to repurchase shares. The stock surrendered 15% of its value the following week, but bounced back with a 13% pop last week.
Bona Films has also been volatile in recent weeks. Bona is a Chinese film distributor with an integrated business model that covers distribution, production, exhibition, and talent representation.
City Telecom is a Hong Kong-based specialist in multimedia productions. Investors gravitate to the stock's juicy 10.9% yield.
Vipshop is a fast-growing online retailer based out of Guangzhou. Revenue nearly tripled in its latest quarter.
There was no substantial news driving these winners beyond the company-specific events at BCD and Yongye. The market's merely warming up to many of the stocks that have been beaten down earlier this year.
It's a good place for Chinese stocks to be as stateside investors flesh out their investing plans for 2013 and beyond.
Betting on China
There's plenty of growth still to be had if you buy the right Chinese growth stocks, but there's a safer way to cash in on overseas sizzle.
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The article 8 Chinese Stocks That Soared Last Week originally appeared on Fool.com.Longtime Fool contributor Rick Aristotle Munarriz has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.