May 7, 2012 (Chinavestor) Thanks to a strong showing of Chinese airliners, the transportation sector is in the black for the first week in May. China Eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) each bounced back up after hitting lows in the middle of April. China Mobile (NYSE:CHL) helped lift Chinese services but the rest of US listed Chinese sectors gave dismay to investors.
Aluminum Corp. of China (NYSE:ACH) fell almost 10%, weighing down basic materials. Consumer stocks continued to suffer as investors are concerned about effects of a global economic slowdown. Energy stocks fell as oil slipped back under $100 on US supplies and economic outlook while tech stocks started to level off after disappointing first quarter results.
Sohu.com Inc. (NASDAQ:SOHU) fell hard after Q1 numbers showed deteriorating net income and soft guidance. But China's fourth largest internet portal is not alone, Sina Corp. (NASDAQ:SINA) is feeling the same pressure. Read related article Sina facing Sohu's curse.
Baidu.com Inc. (NASDAQ:BIDU) fell as well but investors were too scrupulous in our judgement. The company deserves better than what the Street gave it.