Chinese Internet Names Continue To Soar (SINA, SNDA, YOKU)

Shares of Chinese internet stocks are soaring, and it seems like there is no stopping these momentum names. Names like NetEase.com, Inc. NTES, SINA Corporation SINA, Youku.com Inc YOKU, and Shanda Interactive Entertainment Ltd ADR SNDA are all higher today, with Shanda Interactive Entertainment gaining more than 10% on heavy volume. This morning Shanda Interactive announced it would be filing an IPO for its unit, Cloundary, which is the company's online literature unit.