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China ADR Wrap June 28, 2010

China ADR Wrap June 28, 2010

June 28, 2010 (Chinavestor) The DJIA closed Monday at a moderate loss with no direction and light trade. Chinese shares were mixed in Asia earlier today with Hong Kong registering a small advance while Shanghai fell.

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China ADR Wrap June 25, 2010

China ADR Wrap June 25, 2010

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.

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China ADR Wrap June 23, 2010

China ADR Wrap June 23, 2010
June 23, 2010 (Chinavestor) – With the Federal Reserve taking a more cautious stance on the U.S. economic recovery, stocks endured another lethargic with the Dow Jones Industrial Average managing a small gain, but the S&P 500 and Nasdaq booked small losses. The Shanghai Composite fell 0.7% after China said it would scuttle export tax rebates aimed at helping materials makers. Overall, Wednesday was a decent day for China-specific ETFs as the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) both booked small gains. Small-caps firmed up a bit as well as the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) rose nearly 1%.

Among large-caps, oil names saw some modestly positive trade with both Cnooc (NYSE:CEO), China's largest offshore driller, and PetroChina (NYSE:PTR), China's largest oil company, both finishing the day higher. Telecom names showed some strength as well with both China Mobile (NYSE:CHL) and China Unicom (NYSE:CHU) booking gains of over 1%.

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.

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China ADR Wrap June 22, 2010

China ADR Wrap June 22, 2010
June 22, 2010 (Chinavestor) – Enthusiasm for the relaxed Yuan/Dollar peg has officially been terminated as the Shanghai Composite could only manage a meager 0.1% gain on Tuesday while the Hang Seng dropped 0.4%. Monday's trade in the U.S. likely signaled a reversal day and that much was a evident today as a triple-digit loss for the Dow Jones Industrial Average dragged down China ETFs. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both slid 1.6%. Small-caps provided no relief with the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) giving up 1.2%.

Among large-caps, solar stocks had a black cloud hanging over them today with JA Solar (Nasdaq:JASO) and LDK Solar (NYSE:LDK) both losing more than 6%. Trina Solar (NYSE:TSL) didn't fare much better, tumbling almost 5%.

 

Speaking of a sector to avoid, online gaming remains just that. Shanda Games (Nasdaq:GAME) shed 4.6% while Perfect World (Nasdaq:PWRD) plunged almost 5.6%. Netease.com (Nasdaq:NTES) also lost more than 5%. Internet and technology names saw some selling pressure as well with AsiaInfo Holdings (Nasdaq:ASIA) losing 5.5%. City Telecom (Nasdaq:CTEL) gave up some of last week's impressive gains by losing 4% today.
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China ADR Wrap June 21, 2010

China ADR Wrap June 21, 2010

June 21, 2010 (Chinavestor) It was another interesting day for stock investors world wide. News that China will let its current appreciate against the dollar spurred investors' optimism in Asia, sending the Shanghai Composite Index  (SHA:000001) 2.8 percent higher for the day while the Hang Seng Index (INDEXHANGSENG:.HSI) advanced 3.0 percent. European and U.S. exchanges opened higher but much of the optimism eroded by the end of the day in the U.S., prompting the DJIA to surrender all early morning gains. Alcoa Inc. (NYSE:AA) was the best performing component of the DJIA as commodity and energy prices rose. Aluminum Corp. of China (NYSE:ACH), the third largest aluminum maker of the world, ended the day 4.0 percent higher. China Unicom (NYSE:CHU) rose 6.4 percent while Yanzhou Coal (NYSE:YZC) advanced 4.24 percent. Chinese airliners were on fire; China Eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) surged 5.5 percent and 5.4 percent, respectively.

Chinese stocks rose in Asia, each and every component of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI) advanced. But Chinese stocks performed mixed in the U.S. - large caps advanced but smaller cap stocks lagged. The iShares FTSE/Xinhua 25 China Index (NYSE:FXI), tracking the largest 25 publicly traded Chinese companies in Hong Kong, rose 3.5% for the day. Small cap proxy Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) gave up most of early morning gains ending the day 2.3% higher.

China Unicom (NYSE:CHU), the second largest Chinese mobile carrier, jumped 9.1% in Hong Kong and rose 6.4% in New York following May operational statistics revealing that 3G growth outstripped 2G growth for the first time.

Besides energy companies, Chinese airliners gave boost to the Shares FTSE/Xinhua 25 China Index (NYSE:FXI). Airliners have been returning to profitability world wide and with a stronger yuan, disposable income for ordinary Chinese is on the rise, suggesting more leisure and business travel is likely to follow. China Eastern Airlines (NYSE:CEA), the second largest Chinese carrier after swallowing Shanghai Airlines earlier in 2010, rose 5.6% followed by China Southern Airlines (NYSE:ZNH).

Petrochina Co. Ltd. (NYSE:PTR), a Hang Seng Index (INDEXHANGSENG:.HSI) heavy weight, rose 2.04 percent for the day.

Small cap stocks remained volatile. UTStarcom (NASDAQ:UTSI) announced a strategic partnership with China Merchants Bank (HKG:3968), sending its shares 15.8 percent higher by the close. Online gamers outperformed as well - NetEase.com (NASDAQ:NTES) rose 9.8 percent followed by the9 Ltd. (NASDAQ:NCTY). Perfect World (NASDAQ:PWRD) surrendered some of its early morning gains but closed 5.01 percent higher for the day.

The yuan appreciation boosts the top and bottom line of Chinese companies conducting business within China - something online game operators and developers are beneficiaries of. More about the currency relaxation and its implications: Why the Yuan is so important!

Ctrip.com (NASDAQ:CTRP), another travel company, rose 7.6% for the day as online travel bookings and packaged tours are expected  to rise on the wake of the stronger yuan.

Less fortunate China Precision Steel, Inc (NASDAQ:CPSL), Silvercorp Metals (NYSE:SVM) and WuXi Pharmatech (NYSE:WX) fell six percent for the day. Their weak performance took a toll on the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) on Monday.

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