As much as U.S. technology stocks have climbed this year, their Chinese counterparts have surged far more as investors are drawn to the world's second-largest economy.
Among the big Chinese tech stocks traded in the U.S., messaging app Momo, e-commerce site JD.com and its bigger rival Alibaba have each gained nearly 80 percent or more this year, far more than Facebook, which is up 49 percent as the best-performing of the U.S. FANG stocks.
"Tech has been an outperformer this year. Global has been an outperformer this year. Chinese tech stocks combine those two themes," said David Russell, senior manager at online broker E-Trade.
FANG refers to Facebook, Amazon.com, Netflix and Google parent Alphabet, the group of stocks whose dramatic surge has dominated the U.S. stock market's gains. This year, U.S. tech stocks overall remain market leaders, up 23 percent as the best-performing sector in the S&P 500.
However, the MSCI China Information Technology Index has more than doubled that performance — soaring 56 percent this year in terms of Chinese yuan.
"The big takeaway here is China's a rising, affluent economy," Russell said. "We're seeing a complete rise of the consumer based on e-commerce."