Shares of Internet services/portal company China.com (Nasdaq: CHINA) climbed nearly 23 percent on Tuesday, gaining 18-3/16 to 98-1/8 after the company announced that it is expanding its presence in Taiwan.
China.com announced the creation of e-Direct Corporation, a joint venture with Taiwan-based Accton Technology Corporation. The new company will be based in Taipei and provide news, e-commerce and direct marketing services. China.com will own 60 percent of the company.
China.com, which split its stock 2-for-1 after the markets closed on Monday, continued to see its stock rise in early trading today. Shares of China.com were up 1-7/8 to 100.