Despite growing tensions, funds like these two Chinese gaming stocks

James Dennin, Kapitall: Funds are buying these two Chinese gaming stocks, but there are mounting concerns facing the country's tech sector. 

Tensions are escalating between the US and China, as Washington brings a number of alleged Chinese hackers to face charges for stealing valuable information from American companies. 

The gesture is largely symbolic. But it also speaks to a cooling relationship with America's biggest trading partner and what is possibly already the largest economy in the world. 

[Read more from Kapitall: 5 rallying water stocks to watch if California droughts continue]

China hasn't really denied the accusations, either. The general response seems to be, "Well, the US spies too, so what's the big deal?"

They do have a point – particularly in the wake of Edward Snowden's NSA revelations. This got us thinking about China's already vulnerable economy. 

As many critics often point out, a number of the largest Chinese tech companies closely mirror innovations from the US, like Sina (SINA) which is a kind of hybrid of Facebook (FB) and Twitter (TWTR).

One has to wonder whether souring relations with the US could dampen Chinese access to American ideas. The tech sector, particularly gaming, is already somewhat crowded there. We found at least 9 Chinese gaming stocks that trade on US exchanges. 

Two of those companies experienced a spike in institutional purchasing this quarter. This means that funds like pensions and hedge funds bought extra shares of the stock. Could future conflicts of interest between the US and China threaten their performance with American investors? 

Use the list below to begin your anlaysis. 

Click on the interactive chart to view data over time. 

1. Perfect World Co., Ltd. ( PWRD): Engages in the research, development, operation, and licensing of online games primarily in the People's Republic of China, the United States, and the Rest of Asia. Market cap at $906M, most recent closing price at $17.27.  

Net institutional purchases in the current quarter at 4.1M shares, which represents about 10.74% of the company's float of 38.19M shares. 

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