What: Shares of Chinese diesel engine manufacturer China Yuchai International (NYSE: CYD) fell as much as 10% today on no apparent news.

So what: China Yuchai investors have had a rough week, but they need to put this move into perspective because the company has doubled in value since August. Today's move appears to be in conjunction with an overall sell-off of high-growth Chinese names. These higher-beta names often follow the Nasdaq to the downside when it's having a rough day.

Now what: With no apparent news, it looks like today's move is related more to a technical break in the uptrend than anything else. If investors were to take a hard look at competitor Cummins (NYSE: CMI), they'd realize that China Yuchai can go toe-to-toe with this company in both gross margins and operating margins. China Yuchai has shown impressive growth in China because there has been a steady shift toward heavy-duty, yet more efficient, diesel engines. Investors may want to wait for this week's action to settle, but nothing has fundamentally changed from last week, and that bodes well for long-term bulls.

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