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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.

Baidu.com (NASDAQ:BIDU), the largest Chinese stock listed on the NASDAQ, trailed indices lower on Friday. Other Internet stocks followed suit; Sina Corp. (NASDAQ:SINA), Sohu.com (NASDAQ:SOHU) and Ctrip.com (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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China ADR Wrap June 3, 2010

China ADR Wrap June 3, 2010

June 3, 2010 (Chinavestor) The DJIA made a V-shaped recovery on Thursday lifting smaller cap Chinese stocks the most. The Claymore/AlphaShares China Small Cap ETF (NYSE:HAO), tracking small cap China shares advanced +0.1%, in-line with the DJIA, while the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) fell -0.6%.

Financials weighted down the large cap proxy but industry leader Huaneng Power (NYSE:HNP), Home Inns & Hotels Management (NASDAQ:HMIN), Ctrip.com (NASDAQ:CTRP) and China Life Insurance (NYSE:LFC) all retreated. Yanzhou Coal (NYSE:YZC), the third largest Chinese coal miner, felt a pinch, too. But selected NASDAQ listed China blue chips advanced; Sohu.com (NASDAQ:SOHU), NetEase.com (NASDAQ:NTES), Baidu.com (NASDAQ:BIDU) rose just as did oil companies, Sinopec (NYSE:SNP) and Petrochina (NYSE:PTR).

Solarfun Power Holdings (NASDAQ:SOLF) rose the most in percentage points and China Finance Online (NASDAQ:JRJC) advanced 6% before earnings release after the close. But WSP Holdings (NYSE:WH) fell hard, just as was predicted in the overbought/oversold report this morning.

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China ADR Wrap June 1, 2010

China ADR Wrap June 1, 2010

June 1, 2010 (Chinavestor) The sell-off in Asia continued over to Europe and America on Tuesday as investors feared Europe's ills might cause a double dip recession. The DJIA fell 110 points in the last thirty minutes of trading highlighting that uncertainty that surrounds equity markets world wide.

Chinese stocks were mixed; oversold small cap China plays bounced back and some momentum driven NASDAQ names were able to extend gains.

Shanda Interactive (NASDAQ:SNDA) advanced $.95 or 2.32% ahead of releasing earnings after the close. For more upcoming earnings of the week, read China stock earnings calendar June 1-4.

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Technical correction drives China stocks on Tuesday

Technical correction drives China stocks on Tuesday

June 1, 2010 (Chinavestor) Markets are looking for direction on Tuesday as China's economy slows and Europe's debt crisis deepens - but U.S. economic data spurs optimism. Most of the Chinese stocks that have advanced in the morning trade on Tuesday were either oversold or had accumulated significant momentum in the past.

Stocks on the move by noon: eLong Inc. (NASDAQ:LONG), WSP Holdings (NYSE:WH), China BAK Battery (NASDAQ:CBAK), Sinovac (NASDAQ:SVA), Shanda Interactive (NASDAQ:SNDA) and Baidu.com (NASDAQ:BIDU) to the upside and Xinyuan Real Estate Co. (NYSE:XIN), Xinhua Sports & Ent. (NASDAQ:XSEL), Yanzhou Coal (NYSE:YZC), ReneSola Ltd. (NYSE:SOL), and LDK SOlar (NYSE:LDK) to the downside.

The overbought monitor this morning picked up the unusual uptick of eLong Inc. (NASDAQ:LONG) or the oversold position of Synutra International (NASDAQ:SYUT). China ADRs trading an a narrow range in May.

The June Newsletter talks about WSP Holdings (NYSE:WH), Sinovac (NASDAQ:SVA) besides Baidu.com (NASDAQ:BIDU) and Shanda Interactive (NASDAQ:SNDA). June 2010 Newsletter: China stocks sink to 2010 lows in May.

Shares of China BAK Battery (NASDAQ:CBAK) have advanced 9.4% by noon or 19.95% in the last five trading days, suggesting the stock is getting overbought. The company reported worse-than-expected financials for the first three months of 2010 on April 27, tumbling 10% for the day. Today's surge will certainly add selling pressure on CBAK's share price. CBAK down 10% on lower guidance, lackluster growth.

Shanda Interactive (NASDAQ:SNDA) is going to report first quarter financials after the close tonight. China's largest online game developer and operator. Analysts expect the company to deliver $.65/ADS for the current quarter, down from $.77 a year ago. For additional coverage, read Shanda Earnings Reports: Last Piece In Chinese Gamers Profit Puzzle.

Xinyuan Real Estate Co. (NYSE:XIN) fell the hardest among Chinese ADRs on Tuesday by noon, as China's real estate companies continued to suffer. Poly Real Estate (SHA:600048) fell -2.99% in Shanghai earlier the day while China Vanke (SHE:200002), the largest listed Chinese real estate developer, tumbled -3.91% as investors shunned property stocks. China stocks fall in Asia on growth concerns.

Xinhua Sports & Ent. (NASDAQ:XSEL) has liquidity issues after investors read into 2010 Q1 financials: XSEL dives 30% as earnings disappoint.

Yanzhou Coal (NYSE:YZC), ReneSola Ltd. (NYSE:SOL), and LDK Solar (NYSE:LDK) fell as the Euro hit 4 year lows against the dollar, sending energy, oil and coal prices tumbling.


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China ADR Wrap May 24-28, 2010

China ADR Wrap May 24-28, 2010

May 29, 2010 (Chinavestor) – Chinese stocks enjoyed a solid week as concerns about Europe's sovereign debt crisis seem to abate a bit, at least until Friday when Spain endured a second cut to its credit rating. Oil prices gained solid footing for a couple of days, helping boost Chinese oil names such as Cnooc (NYSE:CEO), PetroChina (NYSE:PTR) and China Petroleum & Petrochemical (NYSE: SNP). However, Yanzhou Coal was the king of the large-cap energy and materials names adding 8% on the week.

The top gainer among Chinese ADRs on the week was Xinyuan Real Estate (NYSE:XIN), which soared 34%. Xinyuan Real Estate (NYSE:XIN) gained more than 12% on Friday after Rodman & Renshaw initiated coverage of the shares with a “market perform” rating. Xinyuan Real Estate (NYSE:XIN) sharply outperformed the Claymore/AlphaShares China Real Estate ETF (NYSE:TAO) which was flat on the week. China Housing & Land Development (Nasdaq:CHLN) was another strong real estate performer, adding 16% on the week.

Chinese agriculture names, which we reviewed on Wednesday, also caught a bid with Origin Agritech (Nasdaq:SEED) rocketing higher by almost 31%. The shares gained almost 20% after our piece highlighting the sector. AgFeed Industries (Nasdaq:FEED) gained almost 13% for the week. Agria (NYSE:GRO) was up nearly 27%, gaining about 20% after our piece on the sector.

American Dairy (NYSE:ADY) soared as small-caps came back into favor, at least temporarily, gaining almost 20%. Investors also appeared willing to roll the dice on gambling concern Melco Crown Entertainment (Nasdaq:MPEL), which added almost 17%. Semiconductor maker Spreadtrum Communications also added almost 17% despite a slow news flow. Volume was more than double the daily average on Friday. Information technology services provider Yucheng Technologies (Nasdaq:YTEC) added nearly 14%, also on slow news flow.

Solar names endured another tough week as investors found oil stocks to be far more appealing. Trina Solar (NYSE:TSL) and Yingli Green Energy (NYSE:YGE) lost 3.855 and 4.28%, respectively. Speaking of energy-related names, Huaneng Power International (NYSE:HNP), China's largest independent power producer, seemed on the cusp of getting a technical bounce, which didn't materialize until Friday, when the shares gained 1.62%. Huaneng Power International (NYSE:HNP) was still down 5.6% on the week.

Changyou.com (Nasdaq:CYOU) showed there is still plenty of weakness in the online gaming sector, not good news ahead of next week's earnings updates from Shanda Games (Nasdaq:GAME) and Shanda Interactive (Nasdaq:SNDA). Changyou.com (Nasdaq:CYOU) dropped 4.7% for the week.

Speaking of earnings, China Nepstar Chain Drugstore (NYSE:NPD) is still being held back by the disappointing earnings report the company delivered last week. The stock shed almost 10% this week.

Oil services provider WSP Holdings (NYSE:WH) didn't participate in the oil rally, losing almost 8% after reporting less-than-inspiring earnings coupled with a tepid outlook. AirMedia Group (Nasdaq:AMCN), the digital TV network operator, was a suspicious decliner, losing 10.6% with no headlines to explain the decline.

China Medical Technologies (Nasdaq:CMED) slumped almost 6%, not an encouraging sign given that the medical device maker reports earnings on June 4. Following the week's drop, China Medical Technologies (Nasdaq:CMED), now yields almost 5%. China Architectural Engineering (Nasdaq:CAEI) and Syntura International (NYSE:SYUT) round out the biggest losers, shedding 5% and 4.5%, respectively.

Looking forward, China will release purchasing managers report in the first week of June and Premier Wen Jiabao will meet his Japanese counterpart in a high profile talk later the week.

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