And while there is no stock specific news, there are tow factors contributing to the surge. For one, Chinese financial stocks did poorly in the past week - China Life Insurance (NYSE:LFC). Related article: Technology, financials stocks strong comeback on Monday
Looking at China Finance Online (NASDAQ:JRJC) in particular, the stock was bottoming out in the last two weeks after a 36.5% dive. So a technical correction was timely.
And what proved to be a catalyst? It was China's strong PMI reading this morning. Chinese export stocks, shipping lanes surged in hopes of a soft lending. This made a sound case for China Finance Online (NASDAQ:JRJC), a company that has a proprietary software handling export/import transactions. When trade picks up, JRJC is back in business.