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China shares down on tightening concerns

China shares down on tightening concerns

 

May 4, 2010 (Chinavestor) Traders in Hong Kong took merit from a strong U.S. market but Shanghai continued to fell on reserve ratio concerns. The DJIA advanced +143.2 points or 1.3%, the biggest point advance since Feb 16 as fresh data suggests the economy is on track of a solid growth. The Hang Seng Index (INDEXHANGSENG:.HSI) was in a positive territory for most of the day but eventually succumbed to Chinese domestic news, easing manufacturing data and increasing reserve ratios, ending the day -48.3 points or -0.2% lower at 20,763.05. Yanzhou Coal (HKG:1171) fell -2.9% on top of a -6.3% tumble a day before as Australia is muling a tax on resources. China's third largest coal miner bought Felix Resources, a large coal miner in Australia, last year. ZTE Corp. (HKG:0763) bounced back +2.6% after a 10% tumble last Friday following news that Chinese telecom equipment makers will be banned from India on national security concerns. Chinese airliners rose, China Eastern Airlines (HKG:670) rose +0.5% and China Southern Airlines (HKG:1055) advanced +0.7%. The Shanghai Expo has attracted over 500,000 visitors in the first three days, helping travel and leisure related stocks. Shares of Huaneng Power (HKG:0902) (NYSE:HNP) rose +0.7%.
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Oversold stocks bounce back on Monday

Oversold stocks bounce back on Monday May 3, 2010 (Chinavestor) While the overbought monitor is less dramatic, the oversold indicator makes up for it. ChinaCast Education (NASDAQ:CAST), Noah Education Holdings (NYSE:NED), Guangshen Rai...
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Shanghai closed, Hong Kong down in Asia on Monday

Shanghai closed, Hong Kong down in Asia on Monday May 3, 2010 (Chinavestor) The Shanghai Expo opened up this weekend and has attracted over 430,000 visitors over the weekend. The stock market was closed for the day on the Mainland. Traders in Hong K...
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China stocks on the move on Friday

China stocks on the move on Friday April 30, 2010 (Chinavestor) There isn't any overbought China ADR at the moment, technically speaking. Chinese stocks with unusual momentum include China Sunergy Co. (NASDAQ:CSUN), Baidu.com (NASDAQ:...
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China Stocks Pre-Market Report, April 30, 2010

China Stocks Pre-Market Report, April 30, 2010 April 30, 2010 (Chinavestor) China shares soared in Hong Kong but continued to drag in Shanghai on the last day of trading for the month. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced +329.7 poin...
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