Trading today showed again how much large cap companies matter. China Mobile (CHL), the largest cell phone carrier of the world by subscribers, weighted on the overall index. Shares of CHL lost $1.01 or 1.16% on expectations that it's going to be China Unicom (CHU) and China Netcom (CN) that will benefit from the telecom industry restructuring, while CHL will lose steam on the long run.

We use different technical tools to determine what stock stick out - all these before the market opens. This time we find the Overbought/Oversold indicator extremely useful. This tool picks up five stocks that are way oversold and thus offer turnaround opportunities today: China Eastern Airlines (CEA), Sina Corp. (SINA), Sohu.com (SOHU), CNOOC Ltd. (CEO) and China Mobile (CHL). As the following Google chart suggests, their slip yesterday in percentage points are somewhat different, - chart here - however unusual big moves are best picked up by a stock specific tool - such as the overbought/oversold indicator.

Chinese ADRs are caught in the wind along the DJIA and have gained significant momentum in the last three trading days. Number of Chinese ADRs trading above 50 day-moving-averages or DMAs increased from alst week to 13 with two of them reaching the "overbought" status, more than last week. Four ADRs are classified as oversold, less than last week. Overall, it's a pretty strong showing for the China plays.

China Shenhua Energy Co. Ltd., the largest Chinese coal miner reported that net income rose to RMB14,146 million ($2.06 billion) up 35.7% vs. same period last year. Jump in profits is attributed to strong coal prices in the first six months of the year. In a document submitted to the Hong Kong Stock Exchange Shenhua reported operating income to climb to RMB49,282 million ($7.176 billion) representing an increase of 26.8% vs. last year. Operating profit rose 32.5% contributing to the strong net income growth.

We posted a thorough fundamental analysis of New Oriental Education & Technology Group Inc. (NYSE:EDU) excatly a month ago - this rerpot is an update of latest developements. Report by Vivian Li

This article completes a series of articles posted on this blog. We had four different analysts looking into the books of China's largest aluminum maker, Aluminum Corp. of China (ACH) or CHALCO and each gave the same account - however from a slightly different angle. This time Fei Wen Yuan reports.

Oil is ruling the price of shares of Chinese companies listed in the U.S. today. Asia's largest refiner, China Petroleum and Chemical Corp. or Sinopec (SNP), is top gainer among Chinese ADRs while another oil industry giant, offshore specialist China National Offshore Oil Co. or CNOOC Ltd. (CEO) is top loser. What's the reason for such a different reaction to softening oil prices?

There is not much direction to find for U.S. listed Chinese ADRs in Asian trading this morning. Trading in Hong Kong was extremely weak - in fact turnover in Hong Kong recorded the lowest volume this year. Shanghai is obsessed with another mega IPO, this time China Southern Locomotive is going public, raising concerns that already slim liquidity might dry up. This is the time when technical indicators are extremely useful. One of them is the so called Overbought / Oversold indicator, or simply OBOS. This tool looks into stock trading characteristics and determines if a stock went up too much too fast - thus is susceptible for a pull back or just the opposite. The following picture is a screenshot of Chinavestor's OBOS indicator posted for Premium Subscribers before the opening bell. Based on the indicator, three stocks look interesting for daytraders today: NetEase (NTES), China Unicom (CHU) and Baidu,com (BIDU).

We have been paying close attention to the world third largest maker of alumina and the largest aluminum maker in China, Aluminum Corp. of China (NYSE:ACH) or Chalco. This time another analyst, Alfurqan Suranta (307103) took a close look at the company from a fundamental point of view. Find his short summary of findings below.

Sina Corp, a leading Chinese internet portal, will announce 2008 second quarter earnings on August 6 at 9:00 P.M. E.T. after the market close. Sina is part of China's internet portal triumvirate with Sohu.com (SOHU) and Tencent Holdings (0700.HK). Sohu just reported stellar results, largely attributed to an unexpectedly stong performance of an in-house developed online game. Other than the online game business unit, Sina is very similar in terms of operation to Sohu.

Chinavestor.com, an independent stock research firm specializing on Chinese ADRs or China companies listed on U.S. stock exchanges, is proud to serve the wider investment community by making previous Newsletters public. Current topic of August 2008 Newsletter is: "Earnings season is on. Let's go stock specific." It is available for subscribers only and will be made public in September. July 2008 Newsletter is about explaining why U.S. equity markets have such a profound impact on the performance of Chinese stocks listed in Hong Kong (H-shares) and in New York (ADRs). We believe it still carries a lot of useful and relevant information applicable to today's market environment.

Mr. Woo Chan Lee, 43, has been Managing Director and the head of Asia of JL Thornton & Company since 2006. He is the senior advisor to Mr. John L. Thornton, the founder of JL Thornton & Company, and leads the firm's commercial, government and non-profit activities in the region with a focus on China, Japan, Korea, Singapore, and Australia. Mr. Lee served in the United States Department of State from 1990 to 2006. From 2004 to 2006, he was Counselor at the U.S. Embassy in Canberra, Australia and led a team of U.S. diplomats responsible for overseeing major aspects of the U.S.-Australia relationship. From 2001 to 2004, he was the Principal Officer of the U.S. Consulate in Fukuoka, Japan, serving as the senior U.S. government official in western Japan. From 1997 to 2000, he was the First Secretary of the United States Embassy in Beijing, China, where he advised the U.S. President's special envoy for the rule of law and implemented cooperative projects with the Chinese government to assist the strengthening of China's legal system. Mr. Lee received a B.A., Magna Cum Laude, in East Asian Studies from Yale University in 1987.

This announcement is issued pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Aluminum Corporation of China Limited (the “Company”) and the board of directors of the Company (the “Board”) jointly and severally warrant the truthfulness, accuracy and completeness of the information disclosed herein, and accept the responsibilities for any misrepresentation or misleading statement contained in or material omission from this announcement.