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China ADR Wrap May 28, 2010

China ADR Wrap May 28, 2010

May 28, 2010 (Chinavestor) – A rally in select Chinese large-caps was not enough to lift the broader market higher as the Hang Seng added 1.7% on Friday, but the Shanghai Composite fell 0.2%. U.S. stocks finished the week selling-off after Spain received a second-downgrade to its credit. That sent the Dow Jones Industrial Average to another triple-digit loss.

The losses weighed on China-specific ETFs with the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) losing just under 1%. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the Claymore/AlphaShares China Small-Cap ETF both lost more than 1%.

A decline in oil prices after a two-day rally weighed on Cnooc (NYSE:CEO), PetroChina (NYSE:PTR) and Sinopec Shanghai Petrochemical (NYSE:SHI). All traded lower on Friday, but Yanzhou Coal (NYSE:YZC) continued to be a stalwart among materials names adding another 2.81% today on volume that was better than twice the daily average. Yanzhou Coal (NYSE:YZC) was up almost 8% this week.

Huaneng Power International (NYSE:HNP), China's largest independent power producer, traded higher by 1.62% today. The shares had been looking oversold and due for a technical bounce, so momentum traders may want to continue to watch Huaneng Power International (NYSE:HNP).

Internet giants (Nasdaq:CTRP) and Baidu (Nasdaq:BIDU) were both dragged down by the Nasdaq. JA Solar Solar tumbled almost 6% as oil prices wilted. Small-caps such as AgFeed Industries (Nasdaq:FEED) had limited opportunity to move higher on Friday as risk appetite was shelved for the day. AgFeed Industries (Nasdaq:FEED) lost 3.51%.

China Real Estate (Nasdaq:CRIC) lost almost 4% after news broke that some analysts don't expect Chinese real estate stocks to recover until later this year. Healthcare names didn't provide much shelter from the storm with Chindex International (Nasdaq:CHDX) and China Biotics (Nasdaq:CHBT) losing 7% and 4.5%, respectively.

There was plenty of weakness in tech names with China Information Security Technology (Nasdaq:CPBY) and Vance Information Technology (NYSE:VIT) losing 4.7% and 5.34%, respectively.

Of course there were winners with Origin Agritech (Nasdaq:SEED) attracting some bargain hunters to a sector that has been oversold. WSP Holdings (NYSE:WH) rebounded almost 11% after being hammered due to a disappointing earnings report earlier this week. Melco Crown Entertainment (Nasdaq:MPEL) added another 7% on Friday. The stock is in rally mode, adding close to 15% this week.

Xinyuan Real Estate (NYSE:XIN) was a bright spot in the real estate sector adding 12% after Rodman & Renshaw initiated coverage of the shares with a “market outperform” rating. China BAK Battery (Nasdaq:CBAK) gained 6% on volume that was nearly 50% above the daily average. Acorn International (NYSE:ATV) was the reverse situation, gaining more than 3% on suspiciously light volume. Gushan Environmental Energy (NYSE: GU) gained 5% on no news and volume that was about a third of the daily average.

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China ADR Wrap May 27, 2010

China ADR Wrap May 27, 2010

May 27, 2010 (Chinavestor) – With all but one of the Dow's 30 constituents trading higher on Thursday, U.S. stocks extended yesterday's rally, posting their best one-day gain nearly two weeks. Chinese stocks may have helped get the party started as the Hang Seng and the Shanghai Composite both rallied more than 1% before U.S. markets opened.

Oil prices jumped 4% for the second consecutive day, helping Chinese oil names soar. PetroChina (NYSE:PTR), China's largest oil company, and China Petroleum & Chemical (NYSE:SNP) both gained almost 5%, but that pales in comparison to the almost 7% gain turned in buy Cnooc (NYSE:CEO), China's largest offshore driller. Sinopec Shanghai Petrochemical (NYSE:SHI) was also up almost 7% and Yanzhou Coal (NYSE:YZC) was the stalwart among Chinese commodities names, soaring almost 11%. Aluminum Corp. of China (NYSE:ACH) also took place in the commodities rally, tacking on more than 10%.

A rally in tech stocks had Baidu (Nasdaq:BIDU) and (Nasdaq:CTRP) both up more than 8%. The tech rally could be seen in small issues as well with VanceInfo Technologies (NYSE:VIT) gaining more than 9%. Harbin Electric (Nasdaq:HRBN) also rallied more than 9%. Alternative energy names were also strong on the day, with A-Power Energy Generation Systems (Nasdaq:APWR) and Canadian Solar (NYSE:CSIQ) gaining almost 11% and 10%, respectively.

Even consumer discretionary names like Fuqi International (Nasdaq:FUQI) took part in the rally. The jewelery retailer added 9.31%.

There were laggards on the day and they can be found among a host of the usual suspects. WSP Holdings (NYSE:WH) didn't get a lift from higher oil prices as investors still appear less than thrilled with the company's dour earnings report issued earlier this week. The shares were down 1.82%. GigaMedia (Nasdaq:GIGM) announced earnings before the bell today and the report was glum, sending that stock down by almost 2%. GigaMedia is grilled by investors on 2010 Q1.

For-profit education provider ChinaEdu (Nasdaq:CEDU) is still reacting negatively to its profit report issued earlier this week and that stock was down 0.28% today. China Nepstar Chain Drugstore (NYSE:NPD) continues to see selling pressure, shedding 0.51% today.

On no news and extremely thin volume, ATA Inc. (Nasdaq:ATAI) slid 2%. Only 2,000 shares traded in ATA (Nasdaq:ATAI) compared to average daily volume of more than 35,000 shares. Syntura International (Nasdaq:SYUT) the dairy products maker, was another no-news decliner, losing almost 1.6%, but the decline was seen on strong volume as more than 59,000 shares changed hands in the name compared to average daily trade of less than 34,000 shares.

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Shanda Earnings Reports: Last Piece In Chinese Gamers Profit Puzzle

Shanda Earnings Reports: Last Piece In Chinese Gamers Profit Puzzle

May 27, 2010 (Chinavestor) Earnings season hasn't brought much in the way of clarity for investors in Chinese online gaming firms with (Nasdaq:NTES), the most profitable online gaming firm in China disappointing investors, worse numbers from Giant Interactive (NYSE:GA) and somewhat encouraging numbers from Perfect World (Nasdaq:PWRD).

Next week, the puzzle will be completed with Shanda Interactive (Nasdaq:SNDA) and spinoff Shanda Games (Nasdaq:GAME) due to report earnings on June 1 at 10:30 PM.

Shanda Games (Nasdaq:GAME) is a pure play on China's burgeoning online gaming market, which may have as many as 70 million current users. The company now accounts for 80% of Shanda Interactive's (Nasdaq:SNDA) profits, so saying these gaming firms are linked at the hip is somewhat of an understatement.

Analysts expect Shanda Interactive (Nasdaq:SNDA) to earn 65 cents on revenue of $201.74 million. The forecast for Shanda Games (Nasdaq:GAME) is a profit of 17 cents on sales of $171.55 million.

Disappointments from both firms along the same lines as those delivered by (Nasdaq:NTES) and Giant Interactive (NYSE:GA) would almost certainly punish both Shandas and the sector at large.

Related story: Q1 profit hurt on lower margins.

Giant Interactive: Another Glum Report From China's Gaming Sector

Perfect World tumbles on growth concerns

Shanda Games (Nasdaq:GAME) and Shanda Interactive (Nasdaq:SNDA) will probably need to handily beat estimates and offer strong full-year guidance to have investors feeling good about the sector again.

Knowledge base

China ADR Wrap May 26, 2010

China ADR Wrap May 26, 2010

May 26, 2010 (Chinavestor) If investors needed more evidence that the markets are looking for a direction, consider this: Wednesday was a complete reversal of Tuesday. The DJIA started out low  a day before and made a significant comeback by the end of the day. Today, it was just the opposite: a strong market day turned into a loss by the end of the day.

The same was true for Chinese stocks. The Hang Seng Index and the Shanghai Composite Index fell on Tuesday but both indices advanced the next day. 

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China stocks on the move by noon, May 26, 2010

China stocks on the move by noon, May 26, 2010

May 26, 2010 (Chinavestor) Chinese stocks are on the rise on the heel of positive U.S. market sentiment. Strong home stales and factory orders reassured investors that the recovery is for real, helping them focus on the good news instead of Europe's troubles. Energy stocks pulled the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) up 1.2% for the day and small cap China ADR proxy Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) advanced half of that.

Earnings helped, too: Solarfun Power Holdings (NASDAQ:SOLF) beat estimates before the bell, setting a stage for the rest of the market. Yingli Green Enrgy (NYSE:YGE) and Trina Solar (NYSE:TSL) reported earlier the week, all three companies surprising to the upside.

Smaller cap China ADRs on the move include China GrenTech (NASDAQ:GRRF), China Integrated Energy (NASDAQ:CBEH), and Qiao Xing Mobile Communications.(NYSE:QXM). Semiconductor Manufacturing Int. (NYSE:SMI) jumped 8.3% making up for all the losses on Tuesday.

Besides volatile small cap stocks, such as China GrenTech (NASDAQ:GRRF) or Qiao Xing Mobile Comm. (NYSE:QXM), large cap China plays have steadily advanced. Twenty three components of the twenty five member Xinhua 25 Index rose earlier earlier the day in Asia. No wonder the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) is showing strength on Wednesday. Shares of China Telecom (NYSE:CHA), the largest Chinese fixed line carrier, rose 3.8% by noon while Petrochina (NYSE:PTR), the largest Chinese oil producer, advanced 1.6%. Sinopec (NYSE:SNP), Asia's largest refiner, advanced 1.7% by noon on Wednesday.

Solarfun Power (NASDAQ:SOLF) jumped 13.7% on sound 2010 Q1 report. Solarfun beats 2010 Q1 estimates.

Yingli Green Energy (NYSE:YGE) rose over 2% on the news, making up for some of the losses it suffered earlier the week. The company surprised to the upside earlier the week, too. Yingli back to profit, trading at discount.

Higher oil prices helped bio-diesel producer China Integrated Energy (NASDAQ:CBEH) to jump 9.7%.

Liquid, NASDAQ listed China plays advanced, as predicted in the pre-market report, by saying "Volatile stocks may offer the best turnaround opportunities like (NASDAQ:BIDU), (NASDAQ:SOHU), Sina Corp. (NASDAQ:SINA) or (NASDAQ:CTRP) from the liquid NASDAQ names." Oversold China plays to watch on Wednesday. Int. (NASDAQ:CTRP) is up 3.2% followed by Shanda Interactive (NASDAQ:SNDA) with a 2.6% advance. (NASDAQ:BIDU) gave up all its early morning gains by noon - yet remains an explosive stock to pay attention to.

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