Stock Watch: Benefits From Coverage

Shares of Asian destination site (Nasdaq: CHNA) climbed more than 18 percent on Tuesday, gaining 8-11/16 to 56-9/16 after receiving a buy rating from Bear Stearns.

Bear Stearns was a co-manager for’s recent initial public offering, and positive coverage from an underwriter is no surprise. stock may also be benefiting from reports that it is working with America Online to launch an Asian Internet service provider. The Apple Daily News reported that and AOL plan to launch the new company in Hong Kong later this year. The new company is expected to be called AOL Hong Kong.

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