Both high-quality companies have sold off on China-related fears. But that opens up a long-term opportunity.
Investors came into the new week feeling somewhat nervous about the state of the stock market, particularly given the losses earlier in September. The Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up the most ground, but the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) were also higher on the day. Among the more influential were Sea Limited (NYSE: SE) and Williams-Sonoma (NYSE: WSM), both of which were able to climb by more than 10%.
Shares of Asian technology firm Sea Limited (NYSE:SE) experienced a significant surge on Monday, rising by 14.77%. The upswing came in the wake of news about potential regulatory changes in Indonesia that could impact TikTok, one of Sea's competitors.