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China shares advance in Shanghai but got spooked in Hong Kong on Wednesday

China shares advance in Shanghai but got spooked in Hong Kong on Wednesday

April 21, 2010 (Chinavestor) China stocks advanced in Shanghai while ended the day in the red in Hong Kong on Wednesday. The advance was universal in Shanghai, each and every component of the SSE-50, the index tracking the performance of the fifty largest listed companies, advanced or were unchanged. Insurers outperformed after comments from Du WIngfu, Chairman of the China Insurance Regulatory Commission, who said that combined profit of the three largest insurers are expected to rise over 110% from last year. China Pacific Insurance (SHA:601601) advanced +3.5% followed by Ping An Insurance (SHA:601318). SAIC Auto (SHA:600104), the largest Chinese auto maker rose +2.8% breaking a four day losing streak.

Trading in Hong Kong was different, the Hang Seng Index fell apart in the afternoon session on profit taking. The index advanced over 2% just a day before and with uncertainties looming around China's efforts to cool off the economy and the property sector in particular, investors took profits off the table. Chinese airliners and power producers outperformed following earnings releases. China Eastern Airlines (HKG:0670) (NYSE:CEA) rose 11.5% while China Southern Airlines (HKG:1055) (NYSE:ZNH) advanced +3.4%. Both airliners have reported better-than-expected traffic and financial data. Datang Power (HKG:0991) rose +2.1%, Huaneng Power (HKG:0902) (NYSE:HNP) advanced +2.0% and Huadian Power (HKG:1071) advanced +1.5% following strong earnings from the first two companies. Huaneng Power 2010 Q1 surprises to the upside.

But shares of China Mobile (HKG:0941) (NYSE:CHL) fell -1.5% as the company reported sluggish 2010 first quarter revenue and earnings growth. China Mobile cruising along in 2010 Q1.

China Life Insurance (HKG:2628) fell -0.7% just as Yanzhou Coal (HKG:1171) (NYSE:YZC) did. Energy stocks came under pressure from softening oil prices hurting coal and oil companies alike.

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China stocks to watch on April 20, 2010

China stocks to watch on April 20, 2010 April 20, 2010 (Chinavestor) There is not a single, technically overbought China stock this morning - though some have noticeable momentum such as WuXi Pharmatech (NYSE:WX), Changyou.com (NASDAQ...
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Chinese stocks advance in Hong Kong but trade water in Shanghai

Chinese stocks advance in Hong Kong but trade water in Shanghai April 20, 2010 (Chinavestor) Shares of Chinese companies bounced back in Hong Kong but continued to suffer in Shanghai on Tuesday. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced +218.21 points o...
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Overbought and oversold China stocks on Monday before the open

Overbought and oversold China stocks on Monday before the open  April 19, 2010 (Chinavestor) Goldman spooked the markets on Friday sending Chinese shares lower for the day. As a result, there is not a single China ADR that's overbought at the moment. The m...
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China shares tumble in Asia following Draconian measures

China shares tumble in Asia following Draconian measures April 19, 2010 (Chinavestor) Chinese stock markets fell the most in eight months as Chinese officials introduced news measures to curb lending. Banks are told not to grant loans for third homes and...
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