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Utilities, tech and transport stocks shine

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advance8 June 11, 2012 (Chinavestor) After two completely opposite trading weeks, Chinese utilities shine but capital goods suffer. Last week of May saw the worst five trading days for the DJIA for the year but June brought a much needed relief. Despite a strong comeback in June, most Chinese sectors continue suffer.


Huaneng Power International (NYSE:HNP), China's largest independent power generator, advanced 13.1% in the last two weeks. But the stock became extremely overbought and as such will have to take a break. Investors shouldn't expect much short term upside for the stock right now.

Chinese transportation stocks were second best for the last two weeks, thanks to Guangshen Rail (NYSE:GSH) and China Southern Airlines (NYSE:ZNH). There is plenty of room left for growth in the sector because Chinese airliners have fallen hard in all of May.

Technology stocks made a sound comeback in June as well. Inc. (NASDAQ:BIDU) and NetEase Inc. (NASDAQ:NTES) contributed the most to the sector's good performance. But Semiconductor Manu. (NYSE:SMI), Perfect World (NASDAQ:PWRD) and LDK Solar (NYSE:LDK) weighted down the sector the most.


Capital Goods stocks failed to recover from May lows. China Ming Yang Wind Power (NYSE:MY) and Xinyuan Real Estate (NYSE:XIN) are primarily responsible for the sector's weak showing. Zhongpin Int. (NASDAQ:HOGS) and Origin Agritech (NASDAQ:SEED) fell the most among consumer non-cyclical stocks.

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