June 29, 2010 (Chinavestor) – The signs were all there that Tuesday could be a very bleak day for global equity markets as the Hang Seng took a mighty tumble overnight, falling almost 478 points, or 2.3% to settle at 20,248.90. Things were worse for the Shanghai Composite (SHA:000001), which fell 4.3% to a new 14-month low. U.S. stocks took their cues from the dour performances in Asia with all three major U.S. indexes losing about 3% each.
June 25, 2010 (Chinavestor) – Stocks calmed down a bit on Friday, at least in the U.S., as the Dow Jones Industrial lost less than 10 points, but the Hang Seng and Shanghai Composite both managed higher percentage losses, tumbling 0.2% and 0.5% respectively. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both added more than 1% while the Claymore/AlphaShares China Small-Cap ETF was also up on the day, although not by much.
Internet giant Baidu (Nasdaq:BIDU) finished the day in the green, but Longtop Financial (NYSE:LFT) could not follow through on yesterday's gain, tumbling more than 1% today. WuXi PharmaTech (NYSE:WX) did follow through on Tuesday's gains, adding almost 2.5% on Wednesday, but volume was just about a third of the daily average.
The online gaming sector was again a mixed bag with Shanda Interactive (Nasdaq:SNDA) tumbling half a percent, but Netease.com (Nasdaq:NTES) gained almost 1% and Shanda Games (Nasdaq:GAME) popped more than 4%. On the other hand Perfect World (Nasdaq:PWRD) plunged almost 5.5% on volume that was more than 50% above the daily average.
Solar was another mixed bag with JA Solar (Nasdaq:JASO) and Trina Solar (NYSE:TSL) booking small gains, but LDK Solar (NYSE:LDK) saw a small loss.
With small-caps, we saw some interesting trade among the usual names with China Nepstar Chain Drugstore (NYSE:NPD) popping more than 5% after Tuesday's 6% loss. Volume in the name was more than 50% higher than the daily average today. Real estate names saw mixed results with China Housing & Land Development (Nasdaq:CHLN) rebounding from Tuesday's decline to gain 4.44% today, but Xinyuan Real Estate (NYSE:XIN) lost 1%. Breaking the tie was the Claymore/AlphaShares China Estate ETF (NYSE:TAO), which gained almost 1%.
Some of yesterday's biotech winners became biotech losers today with Tiens Biotech (NYSE:TBV) and Sinovac Biotech (NYSE:SVA) losing 2.2% and 1.6%, respectively. Agriculture name Agria (NYSE:GRO) built on yesterday's gains by adding another 2.6% today, but American Dairy (NYSE:ADY) tumbled 2.3%, showing no follow through on Tuesday's bullish trade.
A-Power Energy Generation Systems (Nasdaq:APWR) and China Fire & Security (Nasdaq:CFSG) continued to see some bearish trade as both names finished lower on Wednesday. China GrenTech (Nasdaq:GRRF) was another named that followed through on the downside, dropping more than 3% after yesterday's loss of 5.6%. CDC Corp. (Nasdaq:CHINA) did rebound today, gaining almost 4.4% on decent volume.