MasterCard Rallies on New China Opportunity, Along With Visa

MasterCard (MA) stock rallied on a new opportunity in China, making it TheStreet's Move of the Day. Along with Visa Inc (V), MasterCard shares gained after the Chinese government said it will open up the bank-card clearing market. Currently, China UnionPay has had a monopoly. Starting June, MasterCard will no longer have to pay a fee to process transactions. China's central bank said it hopes to improve the country's card-clearing services through market competition. Shares ended the regular session up on about triple its average trading volume. TheStreet's Kurumi Fukushima reports in New York.

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