Baidu reports earnings today. A positive reaction to Baidu’s earnings and guidance would also helpful for the Guggenheim China Technology ETF (NYSEArca: CQQQ). Like KWEB, CQQQ has slumped in recent weeks, but the ETF is up 6.2% year-to-date. Like the rival KWEB, CQQQ has weathered declines by Baidu and Alibaba, an impressive feat considering those stocks combine for 18.6% of the ETF’s weight. [China Internet ETF Staves Off Alibaba Slump]

In January, MSCI said it will allow some companies with primary stock market listings outside of their home domiciles into the firm’s equity indexes, paving the way for Alibaba and Baidu to join some-well know international indexes. Prior to Alibaba’s IPO, MSCI said the company would not be eligible to join MSCI indexes because of the company’s decision to primarily list in New York while incorporating in the Cayman Islands. [MSCI to Add Alibaba, Baidu to Global Indexes]

MSCI’s inclusion process will not start until November and work in two stages lasting until February 2016, according to KraneShares.

KraneShares CSI China Internet Fund

Tom Lydon’s clients own shares of QQQ.