Chinese Internet Stocks Rise As Government Blocks Google

china, money

Since the Chinese government has begun blocking Gmail, Chinese internet stocks have been rising, Bloomberg notes.

Sina in particular, which is a big portal and owns popular Twitter clone Weibo, rose more than 5% yesterday. But NetEase, Sohu and Baidu all rose.

This is kind of cringe-inducing, but also makes sense: the more the Chinese government clamps down on foreign competitors, the better local tech companies will do, at least in the short term.

Don’t Miss: 10 Asian Tech Companies That Are Putting American Ones To Shame →

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.