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Many top tech stocks are extended as the market has hit fresh highs. But Tencent stock and other China tech leaders may be in reach with Invesco China Technology ETF (CQQQ). ↑ X NOW PLAYING

Find Leading Growth Stocks Using The IBD Composite Rating The $1.3 billion fund holds both A shares and B shares, the latter traded in foreign currencies. It tracks the FTSE China Incl A 25%

Technology Capped Index, which includes companies in the FTSE China Index and FTSE China A Stock Connect Index. As such, CQQQ gives investors access to many of China's hottest tech

stocks. Information technology was the biggest sector weight at nearly 53% of assets as of Dec. 9. Communication services weighed in at about 36% and consumer discretionary, 9%. Industrials,

financials, health care, materials and real estate made up less than 1% each. The top five holdings account for almost 41% of the 100-stock portfolio. They were TENCENT HOLDINGS (TCEHY),

Meituan, BAIDU (BIDU), Semiconductor Manufacturing International and Sunny Optical Technology Group. Of the stocks also listed in the U.S., Tencent has rallied nearly 60% this year. A 97

Earnings Per Share Rating puts the WeChat messaging app owner among the top stocks in the vast internet content group, which includes Baidu, FACEBOOK (FB) and Google parent ALPHABET (GOOGL).

TENCENT STOCK TESTS SUPPORT Tencent has a five-year compound earnings growth rate of 26%. Analysts expect EPS to jump 39% this year and 18% the next, according to FactSet. It also boasts a

five-year sales growth rate of 35%. The stock is testing its 10-week moving average after clearing a flat base in October. Baidu stock, up 25% through Thursday's close, owns a 91 EPS

Rating. The online search giant has five-year earnings and sales growth rates of 11% each. Analysts expect earnings to rise 24% this year and 11% in 2021, after last year's 25% drop.

Shares are well extended from a 135.54 buy point of a cup with handle. Other U.S.-listed stocks in CQQQ's top 10 include TENCENT MUSIC ENTERTAINMENT (TME), AUTOHOME (ATHM) and JOYY

(YY). The stocks have advanced a respective 59%, 22% and 62% this year. NEW CHANCE TO BUY? Invesco China Technology is slightly extended from a 74.08 flat-base buy point. But it's found

support on a pullback near the 10-week line, which sets up another chance to buy or add shares. The ETF is also on track to complete a flat base this week, with an 84.41 buy point,

according to MarketSmith chart analysis. Going into Friday, CQQQ notched a 50% year-to-date gain. The fund's annual average returns over the past three, five and 10 years are 9.8%,

17.4% and 11.8%, according to Morningstar Inc. SPDR S&P 500 ETF Trust (SPY), up 14% this year, averaged 13.5%, 14.6% and 13.7% over the same respective periods. CQQQ charges a 0.7%

expense ratio. _Follow Nancy Gondo on Twitter at @IBD_NGondo_ YOU MAY ALSO LIKE: IBD 50: Activision Stock Targets New Buy Point Best Growth Stocks To Buy And Watch IBD Live: Learn Top

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