Decent retracements across the Chinese Internet space have been a function of the extraordinary moves and overbought conditions in the market. Technically the prospect for a pullback continues and we might see $80 on the EMCHI where we would be buyers of that weakness.
EMCHI
Tencent over BIDU
Note the chart graph between Tencent and BIDU. Despite the massive earnings fueled run in BIDU, Tencent has been a better story and might be considered the more diversified Chinese internet play among locals.