Investors used the recent weak economic data from China as an excuse to take profits in some of the leading Chinese stocks. This has included the top Chinese internet plays like Qihoo 360 Technology (QIHU) and YY Incorporated (YY).
I think this is a huge mistake and aggressive investors should be using any additional weakness to buy these powerful stocks. As China continues to develop more of a middle class, internet and mobile device usage is booming and these companies are in the forefront of one of the most powerful trends in today’s stock market.
They have done very well in the past year but based on the fundamentals the best may be still to come for these Chinese internet stocks to buy.
Let’s take a closer look at both of these Chinese internet giants: