NEW YORK (TheStreet) -- Shares of SINA Corp. (SINA) - Get Report are higher by 4.71% to $53.52 in midday trading on Tuesday, as some U.S. traded China-based stocks rally as markets in the Asian nation got a boost today.
China stocks soared on Tuesday in the biggest one-day gain in about three months due to speculation that MSCI, a global index provider, will be adding mainland stocks to its emerging markets benchmark, Reuters reports.
The Shanghai Composite index closed up by 3.3% on Tuesday, the Shenzhen Composite grew by 4.1%, and the ChiNext Index, which is focused on startups, gained by 3.3%.
Market sentiment was upped as Goldman Sachs raised the likelihood of the stocks' inclusion to 70% from 50%, Reuters adds. MSCI is expected to make a decision in mid-June.
SINA is a Beijing-based online media company that services China and the global Chinese community.
Separately, TheStreet Ratings has set a "hold" rating and a score of C on SINA Corp. stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and expanding profit margins. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SINA