July 20, 2012 (Chinavestor) What does it mean for Chinese stocks if US tech stocks drive Wall Street? Strong earnings from IBM (NYSE:IBM) and Google Inc. (NASDAQ:GOOG) not to mention eBay Inc. (NASDAQ:EBAY) that beat forecast big time, drove the S&P 500 to over two months high this week. Should Chinese tech stock catch fire, too?
Based on what we saw, Chinese tech stocks have a lot of upside potential right now. The tech sector fell the hardest among any Chinese sector, more than basic materials or consumer stocks. Index heavy weight Baidu.com Inc. (NASDAQ:BIDU) just climbed back to the $110 level following Google's (NASDAQ:GOOG) earnings. NetEase.com (NASDAQ:NTES), Sina Corp. (NASDAQ:SINA) are also in the red for the last two months, not to mention Sohu (NASDAQ:SOHU), a stock that fell to over 4 year lows this week. Bottom fishing opportunity may be right here.