Now that the hullabaloo over the huge IPO of Alibaba is over, perhaps it is time to look at other Chinese stocks. Soufun (SFUN) is a Chinese real estate website which also provides home furnishings and home improvement services in China. With the growing middle class in the Middle Kingdom, people are finding ways to improve their lifestyles, and moving into a nicer home or improving the homes they already have are popular options. Those offering services can advertise on the website. The stock moved up recently 1.86% to close at $9.85. The market cap is $4 billion.
Starbucks (SBUX) announced it would acquire the remaining 60.5% stake in Starbucks Japan to expand its growth in its second largest market by retail sales. The purchase will be done in two phases through tender offers. The stock rose 1.45% to close at $75.17 on higher than average volume.
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Tesla (TSLA) management said it plans to make enough batteries for 500, 000 cars a year by 2020. This would make Tesla the leading maker of lithium ion batteries at the lowest cost. To achieve this objective, Tesla must find a natural source of graphite to replace the expensive synthetic version. The stock dropped 0.14% to close at $246.
