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Overview: China Real Estate Market Part II

Overview: China Real Estate Market Part II
June 9, 2010 (Yantao Li) Property prices in China have been increasing largely since mid 2009 due to the economic stimulus plan in China. Chinese policy markets unveiled a huge, RMB4 trillion ($586 billion) stimulus package in November 2008 to tame the effects of the global economic meltdown.

An unintended consequence of the stimulus was the sharp increase in property prices. On 17th April, 2010 the Chinese government announced another step of an ongoing curbing policy to prevent a housing bubble to burst. After the announcement, while property prices still kept increasing, the trading volume had dramatically decreased.

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China ADR Wrap June 8, 2010

China ADR Wrap June 8, 2010

Chinese stocks rallied on the back of improving market sentiment. Large cap stocks outperformed smaller counterparts as their respective ETFs testify. The iShares FTSE/Xinhua 25 Index (ETF) (NYSE:FXI) rose 2.2% while the small cap proxy Claymore/AlphaShares China Small cap ETF (NYSE:HAO) advanced 1.9%.

Among large cap Chinese ADRs, companies over $500 million market cap in this case, Vanceinfo Technologies (NYSE:VIT) jump the most on Tuesday, followed by China Southern Airlines (NYSE:ZNH) and CNOOC ltd. (NYSE:CEO).

Vanceinfo Technologies (NYSE:VIT) experienced a strong bounce back following two days of sharp losses. Shares of the company fell 10% in the last two trading sessions.

China Southern Airlines (NYSE:ZNH), the largest Chinese carrier by fleet size, benefited from exuberance surrounding the industry as its leaders gather in Berlin discussing the future of the industry. Shares of China Eastern Airlines (NYSE:CEA) rose 0.56%.

CNOOC Ltd. (NYSE:CEO), China's offshore oil specialist, advanced 3.43% along with the increasing price of the crude. Shares of Petrochina (NYSE:PTR), the largest oil producer in China, advanced  2.75% for the day.

Oversold Aluminum Corp. of China (NYSE:ACH), the third largest aluminum maker of the world, advanced 3.28% after falling 10% late last week. Shares of the company became oversold as our analysis have revealed.

WuXi Pharmatech (NYSE:WX) tumbled 6.5% after Jana Partners LLC disclosed that they have doubts about Charles Rivers' decision to pursue the merger with WuXi Pharmatech (NYSE:WX). Jana decided to invest in CRL instead. Related article on Street.com.

JA Solar (NASDAQ:JASO) continued to tumble but that might come to an end, according to the oversold monitor. JA Solar (NASDAQ:JASO) was the most oversold China ADR this morning, suggesting a turnaround is imminent after today's fall.

Perfect World (NASDAQ:PWRD), a Chinese online game developer and operator, fell 2.8% - just to catch up with the rest of the sector. Industry leaders Shanda Interactive (NASDAQ:SNDA) and NetEase.com Inc. (NASDAQ:NTES) failed to impress investors with their 2010 Q1 financial reports, putting pressure on the sector.

Looking at small cap Chinese ADRs, A-Power Energy Generation Systems (NASDAQ:APWR) jumped the most on Tuesday. The 5.09% advance today is more of a technical rebound following a 15% tumble in the past three business days.

Shares of General Steel Holdings (NYSE:GSI) remained explosive, jumping 4.6% for the day. Other high risk/high return stocks with strong gains include Rino Int. (NASDAQ:RINO), China TransInfo Technology Corp (NASDAQ:CTFO) and China Information Security Tech, Inc. (NASDAQ:CPBY).

But Chinese real estate and related stocks remained under pressure. Latest land auction in Hong Kong suggests the real estate market is not showing signs of cooling down despite various efforts. The Government of Hong Kong sold a land for residential development for a record $1.3 billion just this week.

E-House Holdings (NYSE:EJ) fell hard on Monday and now China Housing & Land Development, Inc. (NASDAQ:CHLN) fell 6.36% on Tuesday. The stock accumulated losses of over 30% just in the last five trading days! Xinyuan Real Estate Co., Ltd. (NYSE:XIN) tumbled 4.76% for the day.

Winner Medical Group (NASDAQ:WWIN) shed 5.75% - this is a reflection of lack of investors rather than fundamental news. I had a chance to meet its CEO last month in New York and was impressed by him. I think the firm will do better than this in the short and mid term....

Fushi Copperweld (NASDAQ:FSIN), WSP Holdings (NYSE:WH) continue to suffer following disappointing 2010 Q1 financials.

China ADR Wrap June 7, 2010

China ADR Wrap June 7, 2010

June 7, 2010 (Chinavestor) As the sell-off accelerated in the final hour of trading, so did Chinese ADRs loose ground. Small caps took the brunt of the beating; the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) tumbled 2.2% while the iShares FTSE/Xinhua 25 Index ETF (NYSE:FXI), a proxy for large cap Chinese companies, fell half of that. Most of the support came from two stocks though: index heavy weight China Mobile (NYSE:CHL) and China Eastern Airlines (NYSE:CEA) ended the day higher salvaging large cap heavy indices.

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China Stock Earnings Calendar June 7-11

China Stock Earnings Calendar June 7-11

June 11, 2010 (Chinavestor) The following Chinese companies are scheduled to report financial results for the first quarter ended March 31, 2010 starting June 7.

The week is extremely light, only China-Biotics Inc. (NASDAQ:CHBT) is scheduled to report.

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China ADR Wrap June 4, 2010

China ADR Wrap June 4, 2010

June 4, 2010 (Chinavestor) Weak jobs data and worries about Europe send the DJIA down 3.2% on Friday. Chinese indices in Asia were virtually unchanged earlier on Friday. Jobs data suggested most jobs created in May were a result of temporary hiring while the private sector added the least jobs in 2010 during the month. Hungary is nearing a default on debt, analysts argue. While the country is not part of the euro zone, the market is very sensitive to any additional risk. The euro fell under 1.2 rate vs. the greenback, another 4 year low.

Chinese ADRs followed U.S. market lower. Stocks that fell outnumbered those that advanced eight to one. Small cap China Finance Online (NASDAQ:JRJC) and China Medical Technologies (NASDAQ:CMED) reported results for the first three months of 2010 as follows: both companies returned to profitability sending their shares higher on Friday. Mindray Medical (NYSE:MR), another Chinese medical equipment maker, rose on the back of strong CMED results.

Energy stock fell as the dollar gained against the euro; CNOOC Ltd. (NYSE:CEO) tumbled $6.68 followed closely by Petrochina (NYSE:PTR), China's largest oil producer. Sinopec (NYSE:SNP), the largest refiner in Asia, fell $1.97.

Baidu.com (NASDAQ:BIDU), the largest Chinese stock listed on the NASDAQ, trailed indices lower on Friday. Other Internet stocks followed suit; Sina Corp. (NASDAQ:SINA), Sohu.com (NASDAQ:SOHU) and Ctrip.com (NASDAQ:CTRP) fell hard in a broad sell-off.

The sell-off of Chinese ADRs was universal, both large and small cap proxies fell just about the same. The iShares FTSE/Xinhua 25 Index (NYSE:FXI), tracking the index of the largest 25 Chinese stocks, fell 2.4% while the Claymore AlphaShares Small Cap China ETF (NYSE:HAO) lost 2.3%.

China Medical (NASDAQ:CMED) rose on valuation as investors snapped up shares of the company after 2010 Q1 earnings. The company returned to profitability while its shares fell from $25 to just $10 in the last 52 weeks. Mindray Medical (NYSE:MR) rose on CMED news.

China Technology Development Group (NASDAQ:CTDC) advanced 3.31% as China's thin layered solar maker benefited from strong earnings from the rest of the sector earlier the week.

Small cap China stocks fell the most in percentage terms. Harbin Electric (NASDAQ:HRBN) fell over 10% as overcapacity problems squeeze profits of power producers. Shanda Games (NASDAQ:GAME) erased most of the gains it recorded the day before. Shanda reported 2010 Q1 on Thursday starting a sound rally - but the stock succumbed to pressure on Friday. China TechFaith Wireless (NASDAQ:CNTF) succumbed to profit taking as well, shares of the company jumped 20% last month on strong earnings.

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