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China stocks up in Hong Kong, sleepy in Shanghai

China stocks up in Hong Kong, sleepy in Shanghai

Feb. 23, 2010 (Chinavestor) Shares of Chinese companies continued the uptrend in Hong Kong. The Hang Seng Index opened lower on Tuesday but rallied strong in the morning session, ending the day +245.73 points or +1.21% higher at 20,623.00. Most HKEx-NYSE cross-listed blue chips outperformed. Chinese airliners continued to show strength; China Eastern Airlines (HKG:0670) rose 3.1%, Aluminum Corp. of China (HKG:2600) advanced 2.3% followed by CNOOC Ltd. (HKG:0883) and Yanzhou Coal (HKG:1171).

But investors were less enthusiastic in Shanghai sending the index lower for the second day in a row following the week long holiday. The Shanghai Composite fell -20.82 points or -0.69% to 2,982.57 in light trade. The fourth largest Chinese financial institution, Bank  of Communications (SHA:601328), announced plans to raise $6.15 billion via rights offering to replenish depleted capital. China's banks have lent record amount of loans in 2009 raising fears that the financial sector is going to come under pressure.

Index futures suggest a negative open for American stocks, hurting the outlook of Chinese ADRs. For a stock specific break down read today's overbought - oversold report.

 
Technical Analysis

China stocks on fire in Hong Kong, Shanghai still sleepy

China stocks on fire in Hong Kong, Shanghai still sleepy Feb. 22, 2010 (Chinavestor) Signs that the global economic recovery is on track sent Chinese shares higher in Hong Kong on Monday. The Hang Seng Index (INDEXHANGSENG:.HSI) rose +483.25 points or +2...
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Technical Analysis

China stocks tumble after FED rate hike

China stocks tumble after FED rate hike Feb. 19, 2010 (Chinavestor) A decision to increase direct loan rate by .25% charged to banks is the clearest signal yet that the FED is about to wind down the stimulus program. The increase is the f...
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Technical Analysis

Low volume for China stocks in HK, Shanghai closed

Low volume for China stocks in HK, Shanghai closed Feb. 18, 2010 (Chinavestor) Global economic recovery hopes fueled European markets on Thursday while China was mostly sleeping. The Chinese New Year celebrations have shut the doors of the Shanghai...
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Technical Analysis

China stocks up in HK, Shanghai celebrates New Year

China stocks up in HK, Shanghai celebrates New Year Feb. 17, 2010 (Chinavestor) Shares of Chinese companies rallied in Hong Kong on Wednesday while the mainland's stock exchanges remained closed in observance of the Chinese New Year. Shaghai is clos...
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