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Large cap HNP, LFC, ACH best in June

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narrow_range2 June 30, 2012 (Chinavestor) Large cap Huaneng Power (NYSE:HNP) and China Life Insurance (NYSE:LFC) dominated the best performing two sectors, utilities financials, and  in June. Both stocks advanced over 10% leaving a huge impact behind. An over 7% advance from Aluminum Corp. of China (NYSE:ACH) was enough to move basic materials to the top three spot among all Chinese industrial sectors. But it wasn't cake walk for all Chinese stocks in June. Consumer stocks suffered along with capital goods. China Ming Yang Wind Power (NYSE:MY) sank capital goods while the rest of the industry did relatively well for the month. China Zenix Auto (NYSE:ZX) and Acorn Int. (NYSE:ATV) fell the most among consumer cyclical stocks with Zhongpin Int. (NASDAQ:HOGS) single handedly sank consumer durables.

Technology stocks were mixed for the month. The three largest from the sector, Baidu.com (NASDAQ:BIDU), Sina Corp. (NASDAQ:SINA) and NetEase.com Inc. (NASDAQ:NTES), were basically unchanged while Sohu.com (NASDAQ:SOHU), Youku.com (NYSE:YOKU), Tudou Hold. (NASDAQ:TUDO) and Spreadtum Comm. (NASDAQ:SPRD) beat the market. Selected solar stocks did well, like Yingli Green Energy (NYSE:YGE), Trina Solar (NYSE:TSL) and Canadian Solar (NASDAQ:CSIQ), but Suntech Power (NYSE:STP) and LDK Solar (NYSE:LDK) fell hard as industry consolidation looks inevitable. Read related article: Cash crunch for LDK.

 

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