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Tech, airline and basic materials best in Oct.

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two_thimgbs October 14, 2011 (Chinavestor) Chinese technology stocks continued the strong comeback in the second week of October. Baidu.com Inc. (NASDAQ:BIDU) advanced 28% followed very closely by Sina Corp. (NASDAQ:SINA) and Sohu.com Inc. (NASDAQ:SOHU). Smaller Vanceinfo Technologies (NYSE:VIT) surged as much as 50% in October! Chinese airliners pulled transportation sector higher and Aluminum Corp. of China (NYSE:ACH) lifted basic materials.

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Technology stocks got an additional boost on Friday after Google Inc. (NASDAQ:GOOG) beat consensus estimates. Sina Corp. (NASDAQ:SINA) soared over 18% on Thursday and is taking a much needed break, but next week may be just as good for the stock as this one was. Baidu.com Inc. (NASDAQ:BIDU) is Google's Chinese counterpart and is looking good ahead of its earnings later the month. Google versus Baidu

Sohu.com Inc. (NASDAQ:SOHU) has been coming back stong after a disastrous September performance. In fact, the whole technology sector fell apart last month, third only after transportation and basic materials.

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Sector heavy weight Aluminum Corp. of China (NYSE:ACH) advanced 20.2% in October after a 37% dive in September. And if you think that was horrible consider this. Chinese airliners, China eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) dropped close to 40% each for the month!

There is a lot of room left to the upside going forward for all three sectors. Technology stocks have recovered the fastest but none of the prominent names, like Baidu.com Inc. (NASDAQ:BISDU) or Sina Corp. (NASDAQ:SINA) are considered overbought! In fact, Sina Corp. (NASDAQ:SINA) was oversold as late as this Monday. BIDU, SINA, SOHU and VIT moved the most among technology stocks. Stocks that hasn't caught up with the rest of the sector include NetEase.com (NASDAQ:NTES), Qihoo 360 Technology (NYSE:QIHO), Shanda Interactive (NYSE:SNDA) and Changyou.com Ltd. (NASDAQ:CYOU).



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