Go, China, Go

If you ever need a quick read on what's driving the market, checking the past week's biggest winners and losers is a great place to start. You don't even have to guess this time -- just tell me what five of the eight healthiest Big Board movers have in common:

They're all part of the hot Chinese stock market, of course. The top two stocks may be fast-growing air carriers -- fueled by sector consolidation buzz -- but the rally is pretty broad when the airlines are joined on the list by a wireless provider, a solar energy specialist, and a maker of diesel engines.

You didn't have to be glued to the New York Stock Exchange to see this trend shape up, either. Two of the four largest Nasdaq gainers last week were China Finance (NASDAQ:JRJC) and Qiao Xing Universal Telephone (NASDAQ:XING), up 55% and 45% respectively.

A booming Chinese economy and an easing of trading restrictions will go a long way to heat up an already scorching-hot market. But there's a great lesson to take away from a list of imported Wall Street speedsters: If you're loading up your portfolio on stateside stocks exclusively, you're missing out on a world of investing opportunities.

It's a lesson that echoes through the halls of Fooldom. Sure, the Global Gains newsletter is loaded with some Asian hot stocks. However, you will also find some market-thumping Chinese stocks recommended in the Rule Breakers, Motley Fool Hidden Gems, and Stock Advisor newsletter services, too. 

This doesn't mean that you should simply chase last week's hot stocks. Your best bet is to dig into the due diligence and try to come up with the new trading week's winners. However, if you're limiting yourself to stateside opportunities, you're missing out on the world of difference that a globally diversified portfolio can provide.

Fly through related Foolishness:

• Foolish Fundamentals: Airline Operating Metrics
• 3 Weeks, 3 Solar IPOs
• Buried Treasure in China