Shares of Chinese ADRs followed suit tracking Wall Street lower this week. As the following table sums it all up, Chinese ADRs fell -4.2% this week, on average. Losers outnumbered stocks that closed higher for the week by 35 to 11.
Large cap stocks were no match for the turbulent events of the week. china's second and third largest airliners by fleet size fell 17.2 and 10.4 percent, respecively. Yanzhou Coal (YZC) fell -13.2 percent on price cap of coal introduced this week. This and a price increase of electricity by 4.6% helped Huaneng Power (HNP) to avoid disaster. The stock lost a moderate 2.4 percent. Aluminum Corp. of China (ACH), the world's third largest alumina maker, fell -12.8 percent before announcing a weak performance due to soft alumina prices coupled with increased production costs. Bauxite and price of electricity are all up while overcapacity hammered alumina producers. It seems as if things will get worse before they get better for Chalco.
|
Stock |
Ticker |
6/13/2008 |
6/20/2008 |
% change |
10DMA>30DMA |
|
Solarfun Power Holdings |
SOLF |
18.74 |
20.24 |
8.0% |
|
|
UTS Starcom INC |
UTSI |
5.46 |
5.87 |
7.5% |
* |
|
China Petroleum & Chemical Corp. |
SNP |
95.59 |
101.39 |
6.1% |
* |
|
China Finance Online Ltd. |
JRJC |
17.42 |
18.25 |
4.8% |
|
|
China Gren Tech |
GRRF |
4.88 |
5.11 |
4.7% |
|
|
51Job Inc. |
JOBS |
18.33 |
19.13 |
4.4% |
|
|
PetroChina Co Ltd. |
PTR |
129.99 |
133.48 |
2.7% |
|
|
Sinopec Shanghai Petrochemical Co Ltd. |
EJ |
11.45 |
11.59 |
1.2% |
|
|
Suntech Power Holdings |
STP |
41.10 |
41.31 |
0.5% |
|
|
Hurray! Holding |
HRAY |
3.04 |
3.05 |
0.3% |
* |
|
JA Solar Holdings |
JASO |
19.45 |
19.50 |
0.3% |
|
|
Linktone Ltd. |
LTON |
1.85 |
1.83 |
-1.1% |
|
|
China Techfaith Wire |
CNTF |
4.34 |
4.29 |
-1.2% |
|
|
Baidu.com |
BIDU |
326.84 |
322.89 |
-1.2% |
|
|
HSBC Holdings Pls. |
HBC |
80.44 |
78.97 |
-1.8% |
|
|
China Mobile (Hong Kong) Ltd. |
CHL |
68.54 |
67.01 |
-2.2% |
|
|
Huaneng Power Inc. |
HNP |
32.91 |
32.13 |
-2.4% |
* |
|
Hutchinson Telecoms Int Ltd. |
HTX |
21.62 |
21.05 |
-2.6% |
* |
|
China Life Insurance Co Ltd. |
LFC |
54.96 |
53.19 |
-3.2% |
|
|
3SBio Inc. |
SSRX |
9.55 |
9.21 |
-3.6% |
|
|
Asiainfo Hold. Inc. |
ASIA |
13.70 |
13.19 |
-3.7% |
|
|
China Telecom Corp. Ltd. |
CHA |
58.16 |
55.81 |
-4.0% |
|
|
Trina Solar Ltd. |
TSL |
38.99 |
37.41 |
-4.1% |
|
|
Shanda Interactive Ltd. |
SNDA |
30.06 |
28.70 |
-4.5% |
|
|
Netease.com Inc. |
NTES |
22.99 |
21.94 |
-4.6% |
|
|
Guangshen Railway Co Ltd. |
GSH |
22.75 |
21.63 |
-4.9% |
|
|
China Unicom Ltd. |
CHU |
18.84 |
17.91 |
-4.9% |
|
|
Kongzhong Corp. |
KONG |
4.33 |
4.10 |
-5.3% |
|
|
Elong Inc. |
LONG |
7.69 |
7.28 |
-5.3% |
|
|
CNOOC - China National Offshore Oil |
CEO |
167.70 |
158.75 |
-5.3% |
|
|
Ctrip.com Ltd. |
CTRP |
50.16 |
47.36 |
-5.6% |
|
|
China NetCom Group Corp. |
CN |
56.55 |
53.35 |
-5.7% |
|
|
Sina Corp. |
SINA |
48.14 |
44.81 |
-6.9% |
|
|
American Oriental |
AOB |
10.56 |
9.78 |
-7.4% |
|
|
SemiConductor Manufacturing Int Corp. |
SMI |
3.18 |
2.92 |
-8.2% |
|
|
Sinovac Biotech Ltd. |
SVA |
3.90 |
3.58 |
-8.2% |
|
|
Focus Media Holding |
FMCN |
29.80 |
27.05 |
-9.2% |
|
|
Sohu.com Inc. |
SOHU |
79.43 |
71.91 |
-9.5% |
|
|
China Eastern Airlines Corp. Ltd. |
CEA |
36.71 |
32.89 |
-10.4% |
|
|
Comtech Group |
COGO |
11.29 |
9.99 |
-11.5% |
|
|
Aluminum Corp. of China Ltd. |
ACH |
36.52 |
31.85 |
-12.8% |
|
|
Ninetowns Digital World |
NINE |
2.46 |
2.14 |
-13.0% |
|
|
Yanzhou Coal Mining Co Ltd. |
YZC |
100.30 |
86.61 |
-13.6% |
|
|
Xinhua Finance Media |
XFML |
2.53 |
2.16 |
-14.6% |
|
|
The9 Ltd. |
NCTY |
25.97 |
22.08 |
-15.0% |
|
|
China Southern Airlines Co., Ltd. |
ZNH |
25.97 |
21.50 |
-17.2% |
|
|
AVERAGE |
|
|
|
-4.2% |
|
Despite all the bloadbath we've seen, there is one stock that looks very good from technical point of view. See technical chart of UTStarcom Inc. below summary table. Looks as if UTSI broke resistence level of $3 at the end of April and has been on fire ever since. The stock is up 72% since May 2nd. with no sign of slowing down.
Beijing move to increase gasoline and diesel prices helped big refiners, Sinopec (SNP) and PetroChina (PTR) to stay ahead for the week however Friday's disastrous performance reminded investors that the party for refiners is not over yet.