10 Chinese Stocks That Soared Last Week
Chinese stocks continue to bounce back in 2013.
There were plenty of growth stocks in the world's most populous nation that lost their winning ways through 2012, but January has given some of last year's fallen or forgotten Chinese equities a little extra sizzle.
There were several stocks from the world's most populous nation that posted healthy gains last week, even as the major market indexes inched between 0.4% and 0.8% higher.
Let's take a closer look at some of the winners from last week.
All of these stocks served up market-thumping returns last week, but let's take a closer look at some of the more intriguing names.
Vipshop is a fast-growing online retailer based out of Guangzhou. Revenue nearly tripled in its latest quarter. The stock hit a new high on Thursday, and Vipshop is nearly a five-bagger since bottoming out last April.
We haven't covered Bitauto in more than a year, and that's a shame because the car info hub has been revving up some pretty neat things along the way. Unlike many Chinese growth stocks that stumbled in 2012, Bitauto shares nearly doubled last year. Despite the run, Bitauto's fetching just 12 times this new year's projected profitability. AutoTrader took a 22% stake in the company two months ago.
Youku Tudou is China's leading video-streaming website. Youku's acquisition of the slightly smaller Tudou last year cemented its status as the country's top dog. The stock rallied on upbeat analysts reports by JPMorgan and ABR Investment Strategy.
JA Solar was one of many solar energy companies to brighten up investor portfolios with double-digit percentage returns last week. JA Solar wowed the market by announcing that it was starting to produce five-inch monocrystalline modules that raise the bar on power output.
Finally, we have Baidu moving 8% higher on the week. Shares of China's leading search engine have been inching higher on the month. This past week it was mentioned favorably in the same JPMorgan report that singled out the upside in Youku Tudou. China's improving economy and growing online population bode well for dot-com leaders.
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The article 10 Chinese Stocks That Soared Last Week originally appeared on Fool.com.Longtime Fool contributor Rick Aristotle Munarriz has no position in any stocks mentioned. The Motley Fool recommends Baidu. The Motley Fool owns shares of Baidu. 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.
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