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China ADR Wrap June 9, 2010

China ADR Wrap June 9, 2010

June 9, 2010 (Chinavestor) Lack of confidence punished U.S. indices, erasing most of mornings gains by the end of the day. Chinese indices rose in Asia earlier the day but the DJIA fell in the late afternoon trading to end the day 40.7 points or 0.4% lower at 9,899.25. FED Chairman Ben Bernanke testified before Congress about the health of the economy, but his positive remarks were overrun by concerns following the release of the "Beige book". This economic report highlighted Europe's economic woes and its chilling effect on global growth.

Chinese ADRs felt the pinch - small cap stocks taking the brunt of the sell-off. The iShares FTSE/Xinhua 25 Index (NYSE:FXI), one of the best proxy for large Chinese companies, ended the day 0.7% higher thanks to energy, solar, and telecoms stocks. But small cap proxy Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) shed 0.3% on Wednesday.

Synutra International (NASDAQ:SYUT) rose 4.9% before releasing quarterly earnings after the close. Trina Solar (NYSE:TSL) and Yingli Green Energy (NYSE:YGE) were the best performing solar plays of the day; both companies surprised investors to the upside with robust quarterly reports. Trina Solar 2010 Q1 beats estimates.

Mindray Medical (NASDAQ:MR), a Chinese medical equipment maker, rose 3.5% but has a lot of ground to make up following disappointing 2010 Q1 financials. The stock is trading 17% lower since last month. (NASDAQ:BIDU) remained volatile, falling with the market. The sell-off accelerated as the trading day was nearing the close.

Small cap China stocks were volatile as well. China Housing & Land Development (NASDAQ:CHLN) rose over 15% by noon but ended the day only 5% higher after our report reveled that the firm's cash position is not as sound as it looks. CHLN cash position disappoints.

Resumption of a share repurchase plan helped Qiao Xing Universal Resources, Inc. (NASDAQ:XING) to advance 7.14% on Wednesday.

China Integrated Energy (NASDAQ:CBEH), a Chinese bio-diesel producer and heavy oil distributor, rose as price of oil firmed up.

China TechFaith Wireless (NASDAQ:CNTF) surged over 20% on May 19 following better-than-expected quarterly results. But most of those gains are gone by now, with a very heavy selling taking place in the last 30 minutes of trading on Wednesday. China TechFaith Wireless 2010 Q1 Profit Rises.

WSP Holdings (NYSE:WH) fell 4.40% as investors shunned the company following disappointing 2010 Q1 numbers. WSP Holdings tumbles on earnings report.


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Energy, real estate stocks lead China ADRs higher

Energy, real estate stocks lead China ADRs higher

June 9, 2010 (Chinavestor) Assurances from Ben Bernake that the economic recovery is on track helped U.S. investors turn bullish, at least for the short term. Price of oil rose +3.60% by noon on Wednesday, lifting energy stocks alongside. Oversold Chinese solar stocks shine; Trina Solar (NYSE:TSL) and Yingli Green Energy (NYSE:YGE) took the lead among larger cap Chinese ADRs. CNOOC Ltd. (NYSE:CEO) and Yanzhou Coal (NYSE:YZC) rose substantially as well. Home Inns & Hotels Management (NASDAQ:HMIN) bounced back up on Wednesday but it was real estate China Housing & Land Development, Inc (NASDAQ:CHLN) that advanced the most in percentage terms.  China Unicom (NYSE:CHU) and China Mobile (NYSE:CHL) continue to outperform the broad market as well.

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China ADR Wrap June 8, 2010

China ADR Wrap June 8, 2010

Chinese stocks rallied on the back of improving market sentiment. Large cap stocks outperformed smaller counterparts as their respective ETFs testify. The iShares FTSE/Xinhua 25 Index (ETF) (NYSE:FXI) rose 2.2% while the small cap proxy Claymore/AlphaShares China Small cap ETF (NYSE:HAO) advanced 1.9%.

Among large cap Chinese ADRs, companies over $500 million market cap in this case, Vanceinfo Technologies (NYSE:VIT) jump the most on Tuesday, followed by China Southern Airlines (NYSE:ZNH) and CNOOC ltd. (NYSE:CEO).

Vanceinfo Technologies (NYSE:VIT) experienced a strong bounce back following two days of sharp losses. Shares of the company fell 10% in the last two trading sessions.

China Southern Airlines (NYSE:ZNH), the largest Chinese carrier by fleet size, benefited from exuberance surrounding the industry as its leaders gather in Berlin discussing the future of the industry. Shares of China Eastern Airlines (NYSE:CEA) rose 0.56%.

CNOOC Ltd. (NYSE:CEO), China's offshore oil specialist, advanced 3.43% along with the increasing price of the crude. Shares of Petrochina (NYSE:PTR), the largest oil producer in China, advanced  2.75% for the day.

Oversold Aluminum Corp. of China (NYSE:ACH), the third largest aluminum maker of the world, advanced 3.28% after falling 10% late last week. Shares of the company became oversold as our analysis have revealed.

WuXi Pharmatech (NYSE:WX) tumbled 6.5% after Jana Partners LLC disclosed that they have doubts about Charles Rivers' decision to pursue the merger with WuXi Pharmatech (NYSE:WX). Jana decided to invest in CRL instead. Related article on

JA Solar (NASDAQ:JASO) continued to tumble but that might come to an end, according to the oversold monitor. JA Solar (NASDAQ:JASO) was the most oversold China ADR this morning, suggesting a turnaround is imminent after today's fall.

Perfect World (NASDAQ:PWRD), a Chinese online game developer and operator, fell 2.8% - just to catch up with the rest of the sector. Industry leaders Shanda Interactive (NASDAQ:SNDA) and Inc. (NASDAQ:NTES) failed to impress investors with their 2010 Q1 financial reports, putting pressure on the sector.

Looking at small cap Chinese ADRs, A-Power Energy Generation Systems (NASDAQ:APWR) jumped the most on Tuesday. The 5.09% advance today is more of a technical rebound following a 15% tumble in the past three business days.

Shares of General Steel Holdings (NYSE:GSI) remained explosive, jumping 4.6% for the day. Other high risk/high return stocks with strong gains include Rino Int. (NASDAQ:RINO), China TransInfo Technology Corp (NASDAQ:CTFO) and China Information Security Tech, Inc. (NASDAQ:CPBY).

But Chinese real estate and related stocks remained under pressure. Latest land auction in Hong Kong suggests the real estate market is not showing signs of cooling down despite various efforts. The Government of Hong Kong sold a land for residential development for a record $1.3 billion just this week.

E-House Holdings (NYSE:EJ) fell hard on Monday and now China Housing & Land Development, Inc. (NASDAQ:CHLN) fell 6.36% on Tuesday. The stock accumulated losses of over 30% just in the last five trading days! Xinyuan Real Estate Co., Ltd. (NYSE:XIN) tumbled 4.76% for the day.

Winner Medical Group (NASDAQ:WWIN) shed 5.75% - this is a reflection of lack of investors rather than fundamental news. I had a chance to meet its CEO last month in New York and was impressed by him. I think the firm will do better than this in the short and mid term....

Fushi Copperweld (NASDAQ:FSIN), WSP Holdings (NYSE:WH) continue to suffer following disappointing 2010 Q1 financials.

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China ADR Wrap June 7, 2010

China ADR Wrap June 7, 2010

June 7, 2010 (Chinavestor) As the sell-off accelerated in the final hour of trading, so did Chinese ADRs loose ground. Small caps took the brunt of the beating; the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) tumbled 2.2% while the iShares FTSE/Xinhua 25 Index ETF (NYSE:FXI), a proxy for large cap Chinese companies, fell half of that. Most of the support came from two stocks though: index heavy weight China Mobile (NYSE:CHL) and China Eastern Airlines (NYSE:CEA) ended the day higher salvaging large cap heavy indices.

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China ADR Wrap June 4, 2010

China ADR Wrap June 4, 2010

June 4, 2010 (Chinavestor) Weak jobs data and worries about Europe send the DJIA down 3.2% on Friday. Chinese indices in Asia were virtually unchanged earlier on Friday. Jobs data suggested most jobs created in May were a result of temporary hiring while the private sector added the least jobs in 2010 during the month. Hungary is nearing a default on debt, analysts argue. While the country is not part of the euro zone, the market is very sensitive to any additional risk. The euro fell under 1.2 rate vs. the greenback, another 4 year low.

Chinese ADRs followed U.S. market lower. Stocks that fell outnumbered those that advanced eight to one. Small cap China Finance Online (NASDAQ:JRJC) and China Medical Technologies (NASDAQ:CMED) reported results for the first three months of 2010 as follows: both companies returned to profitability sending their shares higher on Friday. Mindray Medical (NYSE:MR), another Chinese medical equipment maker, rose on the back of strong CMED results.

Energy stock fell as the dollar gained against the euro; CNOOC Ltd. (NYSE:CEO) tumbled $6.68 followed closely by Petrochina (NYSE:PTR), China's largest oil producer. Sinopec (NYSE:SNP), the largest refiner in Asia, fell $1.97. (NASDAQ:BIDU), the largest Chinese stock listed on the NASDAQ, trailed indices lower on Friday. Other Internet stocks followed suit; Sina Corp. (NASDAQ:SINA), (NASDAQ:SOHU) and (NASDAQ:CTRP) fell hard in a broad sell-off.

The sell-off of Chinese ADRs was universal, both large and small cap proxies fell just about the same. The iShares FTSE/Xinhua 25 Index (NYSE:FXI), tracking the index of the largest 25 Chinese stocks, fell 2.4% while the Claymore AlphaShares Small Cap China ETF (NYSE:HAO) lost 2.3%.

China Medical (NASDAQ:CMED) rose on valuation as investors snapped up shares of the company after 2010 Q1 earnings. The company returned to profitability while its shares fell from $25 to just $10 in the last 52 weeks. Mindray Medical (NYSE:MR) rose on CMED news.

China Technology Development Group (NASDAQ:CTDC) advanced 3.31% as China's thin layered solar maker benefited from strong earnings from the rest of the sector earlier the week.

Small cap China stocks fell the most in percentage terms. Harbin Electric (NASDAQ:HRBN) fell over 10% as overcapacity problems squeeze profits of power producers. Shanda Games (NASDAQ:GAME) erased most of the gains it recorded the day before. Shanda reported 2010 Q1 on Thursday starting a sound rally - but the stock succumbed to pressure on Friday. China TechFaith Wireless (NASDAQ:CNTF) succumbed to profit taking as well, shares of the company jumped 20% last month on strong earnings.

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