After a 200 point-sell off in the Dow, maybe it's time for your portfolio to take a vacation from the U.S. market. Let's find some gains overseas, in Fast Money World.
China's been accumulating money for years by supplying the rest of the world with everything from shoes to electronics. After hoarding more than $1.2 trillion of reserves, Beijing announced last month it would actually start investing some of that amount.
China announced it would create a special state-run investment fund to put that money to work.
It started with a $3 billion stake in buyout firm Blackstone group. Now China may soon be looking for bigger fish to fry and turn to mining company BHP Billiton (BHP) according to a report by Australian brokerage Bell Potter.
Pete Nararian says China is an importer and he thinks it’s a perfect fit.
Eric Bolling agrees. He thinks China bought into Blackstone for their relationships because, ultimately, China wants to buy assets.
Also Eric says likes Aluminum Corp. of China Limited (ACH) as a play.
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Trader disclosure: On June 6 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Macke Owns (JWN), Najarian Owns (AMD),(.VIX),(AMTD), (AAPL), (NFLX), (NVDA); Bolling Owns (T), (ICE), (NMX), (MPEL); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures; Bolling Is Short (FXI) And Owns (FXI) Puts;