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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 Baidu.com (NASDAQ:BIDU), Sohu.com (NASDAQ:SOHU), Sina Corp. (NASDAQ:SINA) or Ctrip.com (NASDAQ:CTRP) from the liquid NASDAQ names." Oversold China plays to watch on Wednesday.

Ctrip.com Int. (NASDAQ:CTRP) is up 3.2% followed by Shanda Interactive (NASDAQ:SNDA) with a 2.6% advance. Baidu.com (NASDAQ:BIDU) gave up all its early morning gains by noon - yet remains an explosive stock to pay attention to.

 
Knowledge base

China ADR Wrap May 25, 2010

China ADR Wrap May 25, 2010

May 25, 2010 (Chinavestor) – Chinese equities declined for the first time in three days due to elevated concerns that the government there will move swiftly to cool the real estate market and prevent asset bubbles from forming.

Europe's debt woes continue to pressure commodities prices all over the world, a trend that weighed on Cnooc (NYSE:CEO) and Sinopec Shanghai Petrochemical (NYSE:SHI) both losing more than 2%. Yanzhou Coal (NYSE: YZC) was another Chinese commodities name that took a bath on Tuesday, shedding almost 4% despite news that JPMorgan Chase (NYSE:JPM), the second-largest U.S. bank, increased its equity stake in the coal producer.

China Eastern Airlines (NYSE:CEA) jumped 14% yesterday, making it the biggest percentage gainer on the New York Stock Exchange, but the shares gave back almost all of those gains today, shedding nearly 11%. Rival China Southern Airlines (NYSE:ZNH) fell sympathy, losing more than 4%.

WSP Holdings (NYSE:WH), the maker of casing and tubing products for oil and natural gas explorers, was slammed on a weak earnings report that saw the company move to a first-quarter loss from a profit a year earlier. Sales slumped almost 69% and shares of WSP Holdings (NYSE:WH) fell almost 13%. Falling oil prices were not kind to WSP Holdings (NYSE:WH), but they aren't helping solar stocks either. Trina Solar (NYSE:TSL), reported first-quarter results that beat estimates, but the shares fell as tumbling oil prices continue to pressure the solar sector.

For-profit education provider ChinaEdu (Nasdaq:CEDU) was down on a tepid profit report issued last night. Yingli Green Energy (NYSE: YGE) lost 5% after a decision to delay a new solar plant. Ardour Capital downgraded the stock to “hold” from “buy.”

Hybrid seed maker Origin Agritech (Nasdaq:SEED) fell more than 5% a day after Rodman Renshaw upgraded the stock and boosted the price target. China Infrastructure Investment Corp. (Nasdaq:CIIC) was a suspicious decliner, losing 8% on no news and volume that was well below the daily average.

In terms of winning Chinese issues, Acorn International (NYSE:ATV) gained 5.95% on no news, but the stock is still down more than 15% in the past month. China Technology Development (Nasdaq:CTDC) also gained more than 5% on no news, but strong volume. Healthcare-related names continued to be one of China's strongest sectors with Sinovac Biotech (Nasdaq:SVA) and Simcere Pharmaceutical Group (NYSE:SCR) gaining 2.5% and 1.25%, respectively. Volume was more than double the daily average in Simcere Pharmaceutical Group (NYSE:SCR).

Silver prices were down, but gold was up and that was enough to lift Silvercorp Metals (NYSE:SVM) 1%. Macau casino and resort giant Melco Crown Entertainment (Nasdaq:MPEL) popped 1.61% despite sparse headlines. Agria Corp. (NYSE:GRO) bucked the negative trend among agriculture-related stocks, adding 2.17%.

With risk appetite still low and the European debt crisis proving to be a producer of daily headlines that send investors running for the exits, Chinese stocks are having a hard time gaining traction, but Morgan Stanley said in a note to clients today that Chinese equities are factoring rising inflation and declining growth . Morgan Stanley called this a “mispricing” that could correct in the near-term.

 

Knowledge base

China stocks on the move by noon, May 25, 2010

China stocks on the move by noon, May 25, 2010

May 25, 2010 (Chinavestor) Every Chinese ADR but Giant Interactive (NYSE:GA)  is in the red by noon on Tuesday. HSBC Plc. (NYSE:HBC), Hutch Telecom (NYSE:HTX) China TechFaith Wireless (NASDAQ:CNTF) and Sinovac (NASDAQ:SVA) are unchanged.

Big movers to the downside in dollar terms: China Eastern Airlines (NYSE:CEA) tumbled -$5.69 or -12.44%, erasing most of the gains from Monday. CNOOC Ltd. (NYSE:CEO), China's offshore oil specialist, fell -$5.17 followed by Baidu.com (NASDAQ:BIDU).  Petrochina Ltd. (NYSE:PTR), Sina Corp. (NASDAQ:SINA), and NetEase.com (NASDAQ:NTES) all suffered as the markets retreat.

Chinese ETFs are falling along the broad market. Large caps have been holding on slightly better; the iSharesFTSE/Xinhua 25 Index (NYSE:FXI) is down -2.9% while the Claymore ALphaShares China Small Cap ETF (NYSE:HAO) lost -3.7% by noon.

Chinese online gamers fare better than the rest of the market: Giant Interactive (NYSE:GA) is virtually unchanged while Perfect World (NASDAQ:PWRD) lost only -0.7%. Shanda Interactive (NASDAQ:SNDA) is going to report earnings next week, completing the earnings season for the industry.

China TechFaith Wireless (NASDAQ:CNTF) surprised to the upside on May 20th with a bullish outlook on top of strong revenue and earnings growth. Shares of the company have been weathering the storm relatively well. China TechFaith Wireless Q1 Profit Rises.

China Eastern Airlines (NYSE:CEA) bumped up 14% on Monday just to fall back to the $40s the next day. Hope you sold your CEA holdings from the BEST portfolio as instructed on Monday. Here is the script from the email alert sent out to Advanced members at 12:30 on Monday: "

Dear Subscriber,

China Eastern Airlines (NYSE:CEA) is up 17% since last Friday. CEA is trading at $46.59 by noon.

Take profits now!

Wish you successful investing"

Origin Agritech (NASDAQ:SEED) jumped 16.6% on Monday following an analyst upgrade. But the road proved to be rocky, the stock is one of the biggest losers in percentage points by noon on Tuesday.

Chinese energy stocks are under pressure as the oil is down -2.8% as Europe's problems spread. CNOOC Ltd. (NYSE:CEO) and Petrochina (NYSE:PTR) shed among the most in dollar terms - but expect them to outperform once the markets stabilize. Baidu.com (NASDAQ:BIDU) is an explosive stock, might reach $80 in a matter of days, should market conditions improve. Internet heavy weight Sina Corp. (NASDAQ:SINA) and NetEase.com (NASDAQ:NTES) are value stocks that deserve better - but can't fight the market.

Knowledge base

China ADR Wrap, May 24, 2010

China ADR Wrap, May 24, 2010

May 24, 2010 (Chinavestor) A regional Spanish bank rescue plans rattled investors nerves before the close, sending the DJIA (INDEXDJX:.DJI) tumbling 88 points in the last ten minutes of trading. Chinese ADRs followed U.S. indices lower. Yingli Green Energy (NYSE:YGE) erased all previous gains of the day after a better than expected earnings propelled the stock 4% higher in the morning. But Longtop Financial (NYSE:LFT), another China play to report before the open, was able to hold on to previous gains, ending 11.31% higher for the day. But the best China play on Monday turned to be small cap Origin Agritech Ltd. (NASDAQ:SEED), a Chinese biotech seed producer, whose shares advanced 16.62% following an analyst upgrade. China Eastern Airline (NYSE:CEA) jumped 15.18% for the day following a similar rally in Hong Kong earlier the day. Larger China Southern Airlines (NYSE:ZNH) advanced +5.52% as the sector caught fire on lower oil prices. Small cap Xinyuan Real Estate Co., Ltd. (NYSE:XIN) rose 10.5% as signs that China will keep tightening the property market eased. Chinese solar stocks fell along with the price of the oil; ReneSola Ltd. (NYSE:SOL) fell -6.28% followed by Canadian Solar (NASDAQ:CSIQ) and Solarfun Power Holdings (NASDAQ:SOLF).

Chinese ETFS ended the day in a positive territory thanks to a bullish market sentiment in Asia. The Shanghai Composite Index (SHA:000001) advanced +3.5% on Monday with each and every component of the SSE-50Index, tracking the 50 largest publicly traded Chinese stocks in Shanghai, ending the day in the black. China Eastern Airlines (HKG:0670) (NYSE:CEA) rose 11.39% in Hong Kong along with the rest of the airline industry as liberalization of premium-class tickets and easing of monetary policy buoyed investors. Today's 14.9% jump in New York came as a little surprise for investors. China Southern Airlines (NYSE:ZNH) advanced 5.52% in New York while Air China (HKG:0753) advanced 6.86% earlier the day.

But it was Origin Agritech (NASDAQ:SEED) that jumped the most among Chinese ADRs on Monday. China's largest biotech seed producer advanced 16.6% following a Rodman & Renshaw analyst upgrade, suggesting the market for hybrid seeds is expected to grow threefold in the next five years.

Shares of Longtop Financial (NYSE:LFT) advanced 11.3% following a better-than-expected earnings report combined with a bullish outlook for the upcoming quarter. Longtop soars following 2010 Q1.

Yingli Green Energy (NYSE:YGE) advanced beat the Street with 2010 first quarter numbers yet the stock succumbed to profit taking at the end of the day, closing in the red for Monday. But shipment, revenue and earnings grew above analysts' expectations, suggesting the Chinese solar sector remains healthy. Yingli back to profit, trading at discount.

Trina Solar (NYSE:TSL) and Solarfun Power (NYSE:SOLF) are schedule to report first quarter earnings later this week. China stock earnings calendar, May 24-28.

Most solar plays fell on Monday; Canadian Solar (NASDAQ:CSIQ) fell -5.79% while Renesola Ltd. (NYSE:SOL) dived -6.28%. Spain is one of the largest export market for Chinese solar makers and any Spain related financial problem makes investors nervous.

Chinese real estate stock pulled the Shanghai Composite Index (SHA:000001) higher on Monday. Chinese Premier suggested a fiscal easing is likely to come to make up for Europe's ebbs, helping property developers on Monday. Xinyuan Real Estate Co., Ltd. (NYSE:XIN), a NYSE listed Chinese developer rose +10.5% for the day.

 

Knowledge base

China ADR Wrap May 20, 2010

China ADR Wrap May 20, 2010

May 20, 2010 (Chinavestor) – Global equity markets faltered once again on Thursday as Europe's debt concerns continued to hold equity markets hostage. The three major U.S. indexes took their cues from their Chinese counterparts, which plunged overnight, helping the Dow Jones Industrial Average, S&P 500 and Nasdaq all loose at least 3.5%. The Shanghai Composite (SHA:000001) lost almost 32 points, or 1.2%, to settle at a three-week low of 2,555.94.

On the bright side, Chinese solar stocks found some stability on Thursday despite a decline in oil prices. Trina Solar (NYSE:TSL) had been looking oversold and rebounded by 3.65% while Canadian Solar (Nasdaq:CSIQ) got a nice bounce as well, gaining 2.42%. Solarfun Power (Nasdaq:SOLF) also traded higher on the day and Suntech Power (NYSE:STP) gained almost 1%.

Riskier assets such as energy and materials names were bludgeoned as investors once again showed risk appetite is weak. Cnooc (NYSE:CEO), China's largest offshore oil driller, slumped $5.96 to $151.82 and PetroChina (NYSE:PTR), China's largest oil company, tumbled $4.76 to $101.92. Coal stocks also took it on the chin with the Market Vectors Coal ETF (NYSE:KOL) violating support at $30. Yanzhou Coal (NYSE:YZC), a top KOL holding, lost $1.63, or 7.5%, to close at $20.17.

Chinese airlines were grounded by investors today with China Southern Airlines (NYSE:ZNH) plunging $2.02, or 9.5%, to $19.22 on volume that was more than 505 higher than usual. The trade was no better for rival China Eastern Airlines (NYSE:CEA), which fell $3.14, or 7.55%, to $38.44. Travel related stocks in general saw dour trade with Ctrip.com (Nasdaq:CTRP) shedding $3.04, or 8%, to settle at $34.96 on volume that was more than 50% higher than the daily average.

Other big losers included Baidu (Nasdaq:BIDU), which lost $2.55, or 3.64%, to close at $2.55. Sina (Nasdaq:SINA) continues to see substantial selling pressure and was down again on Thursday, losing $2.01, or 5.54%, to settle at $34.28. Sina (Nasdaq:SINA) has lost 2% in the past two days after gapping up early Tuesday.

China TechFaith Wireless (Nasdaq:CNTF) was the day's big winner after delivering a solid earnings report last night. China TechFaith Wireless (Nasdaq:CNTF) shares were up almost 22% on the day. Linktone (Nasdaq:LTON) caught a bid on the back of China TechFaith Wireless (Nasdaq:CNTF) as Linktone (Nasdaq:LTON) gained 9.8%. Qiao Xing Mobile (NYSE:QXM) also participated in the positive trade for mobile phone-related issues, gaining almost 1%.

Vanceinfo Technologies (NYSE:VIT) notched a decent gain of 44 cents, or 2.5%, to close at $19.93. Volume was more than double the daily average in Vanceinfo Technologies (NYSE:VIT). Yucheng Technologies (Nasdaq:YTEC), the provider of IT services, gained almost 1% on strong volume. Sinovac Biotech (Nasdaq:SVA) and Yingli Green Energy (NYSE:YGE) rounded out the top Chinese percentage gainers with gains of 0.25% and 0.22%, respectively.

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