Why Chinese Stocks Popped Today

Five months into a recession that began with the discovery of a novel coronavirus in China, investors are turning for relief to ... Chinese stocks.

U.S. markets are mostly in the red today, but over in the Middle Kingdom, the Shanghai-based SSE Composite Index is glowing a reassuring shade of green, up 1.4% -- and many Chinese stocks are doing even better than that. Search engine Sogou (NYSE: SOGO) is surging 13.1%, for example, and online clothier Mogu (NYSE: MOGU) is right behind it at 13%. Recent IPO stock and Chinese online grocer Dada Nexus (NASDAQ: DADA) is up a solid 10.5% in 1:20 p.m. EDT trading. Online gamers NetEase (NASDAQ: NTES) and Sohu.com (NASDAQ: SOHU) are up 7% and 9.7%, respectively.