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China ADR Wrap June 14-18, 2010

China ADR Wrap June 14-18, 2010
June 19, 2010 (Chinavestor) – It was a bullish week for Asian markets with concerns easing that Europe's sovereign debt woes would derail the global economic recovery. Bullish economic data points out of the U.S. helped lift Asian markets to their biggest weekly gain in six months with the Hang Seng advancing almost 507 points, or 1.46%, good for a nine-day winning streak, the best run for the Hong Kong index in four years. The Shanghai Composite dropped 2.2% in a holiday-shortened week.

Chinese stocks continue to lag as investors remain pensive regarding China's worrisome property market and further tightening measures Beijing may implement to prevent a potential real estate bubble from forming.

 

Stocks mentioned in this report include: Xinyuan Real Estate (NYSE:XIN), China Fire & Security Group (Nasdaq:CSFG), internet stocks Ctrip.com (Nasdaq:CTRP), CDC Corp. (Nasdaq:CHINA) AsiaInfo Holdings (Nasdaq:ASIA) and VisionChina Media (Nasdaq:VISN). Small cap stocks with a significant surge include  China Architectural Engineering (Nasdaq:CAEI), RINO International (Nasdaq:RINO), 51Job (Nasdaq:JOBS) and Gushan Environmental Energy (NYSE:GU).
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China ADR Wrap June 18, 2010

China ADR Wrap June 18, 2010

June 18, 2010 (Chinavestor) – It was another sluggish day for U.S. stocks with Dow Jones Industrial Average mustering a meager gain of just 16 points, or 0.2%. Chinese stocks didn't fare much better as the Shanghai Composite Index (SHA:000001) tumbled almost 2% in the last trading day of the week. Trade was tepid in Hong Kong with the Hang Seng Index (INDEXHANGSENG:.HSI) gaining just 0.7%.

Among large-caps, City Telecom (Nasdaq:CTEL) wrapped up an impressive week of gains by gaining almost 6% on Friday. City Telecom (Nasdaq:CTEL) gained more than 19% this week. Syntura International (Nasdaq:SYUT) was all over the map this week, but heads into the weekend with a gain of more than 5% on Friday. Transportation names showed some strength with China Southern Airlines (NYSE:ZNH) gaining 3.52% and Guangshen Railway (NYSE:GSH) adding almost 2%.

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Yuan Forwards Look Poised To Jump

Yuan Forwards Look Poised To Jump

June 18, 2010 (Chinavestor) In anticipation of the Group of 20 nations meet on June 26-27 in Toronto, forwards on the Chinese Yuan are touching their highest levels of 2010 on speculation the U.S. will continue to press China on the issue of currency appreciation. China's one-year swap rate rose to the highest level since October 2008 on speculation the central bank will push up borrowing costs in money markets higher to cool the economy, according to Bloomberg News.

The World Bank noted an appreciating Yuan would give China more flexibility in terms of monetary policy, but Beijing has been reluctant to let its currency rise against the U.S. Dollar and other major currencies for fear of hurting Chinese exporters. A stronger Yuan would allow China to ease the specter of rising inflation.

The yuan’s 12-month non-deliverable forwards rose 0.6 percent to 6.7081 per dollar as of 5:31 p.m. in Hong Kong, the biggest increase since Dec. 22, according to data compiled by Bloomberg. The contracts have soared almost 1% this week as traders bet the Yuan will rise nearly 2% from current spot prices.

China halted Yuan appreciation in 2008 in the midst of the global economic crisis. The Yuan had gained 21% from 2005-2007.

Bank Of Japan Sees Possible Chinese Bubble

Bank Of Japan Sees Possible Chinese Bubble

June 18, 2010 (Chinavestor) The Bank of Japan, the central bank for the world's second-largest economy, said China's economic recovery is fueling concerns that the economy there is at risk of a bubble.

In May, Chinese exports rose the most in six months while property values soared more than 12% and inflation jumped the to the highest point in 19 months. Bank of Japan Governor Masaaki Shirakawa said Chinese authorities are addressing the risk of overheating, according to Bloomberg News.

Yesterday, Nomura Securities said China's real estate market may its bubble burst quickly with property values declining as much as 20% in next 12 to 18 months. China is toying with the idea of a real estate tax after other measures, including more stringent down payment requirements, have failed to cool property prices.

China ADR Wrap June 17, 2010

China ADR Wrap June 17, 2010

June 17, 2010 (Chinavestor) – It was another day of tepid gains for U.S. stocks and their Chinese counterparts did not follow suit as the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25% Index (NYSE:FXI) both fell more than 1% each. Small-caps offered little refuge with the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) retreating after booking decent gains over the past few days.

Among large-caps, solar stocks once again caught a bid with JA Solar (Nasdaq:JASO), LDK Solar (NYSE:LDK) and Suntech Power (NYSE:STP) all advancing on the day. A curious winner was 51job Inc. (Nasdaq:JOBS), a provider of employment services, which advanced more than 7% today on more than quadruple the average daily volume, but there was no news to drive the robust gain and volume.

Commodities names were a mixed bag with Silvercorp Metals (NYSE:SVM) continuing to look bullish, gaining almost 1.3%. Yanzhou Coal (NYSE:YZC) and Aluminum Corp. of China (NYSE:ACH) did not follow suit, losing 2.2% and 3.3%, respectively. The gaming sector remains a tricky one to navigate as Shanda Games (Nasdaq:GAME) tumbled more than 3% and Internet giant Baidu (Nasdaq:BIDU) also shed about 3%.

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