Buy Japan. Buy Vietnam. Buy U.S. media stocks. Buy Mexican food stocks. Sell China.

For investors wanting to take advantage of the proposed Pacific Rim free trade pact that appears to be nearing completion, that's what a savvy stock strategy might look like.

The 12 nations negotiating the Trans-Pacific Partnership could wrap up an agreement in coming weeks, after the pact cleared a major U.S. hurdle with Congress's decision to give broad negotiating authority to U.S. President Barack Obama.