Internet giant Baidu (Nasdaq:BIDU) finished the day in the green, but Longtop Financial (NYSE:LFT) could not follow through on yesterday's gain, tumbling more than 1% today. WuXi PharmaTech (NYSE:WX) did follow through on Tuesday's gains, adding almost 2.5% on Wednesday, but volume was just about a third of the daily average.
The online gaming sector was again a mixed bag with Shanda Interactive (Nasdaq:SNDA) tumbling half a percent, but Netease.com (Nasdaq:NTES) gained almost 1% and Shanda Games (Nasdaq:GAME) popped more than 4%. On the other hand Perfect World (Nasdaq:PWRD) plunged almost 5.5% on volume that was more than 50% above the daily average.
Solar was another mixed bag with JA Solar (Nasdaq:JASO) and Trina Solar (NYSE:TSL) booking small gains, but LDK Solar (NYSE:LDK) saw a small loss.
With small-caps, we saw some interesting trade among the usual names with China Nepstar Chain Drugstore (NYSE:NPD) popping more than 5% after Tuesday's 6% loss. Volume in the name was more than 50% higher than the daily average today. Real estate names saw mixed results with China Housing & Land Development (Nasdaq:CHLN) rebounding from Tuesday's decline to gain 4.44% today, but Xinyuan Real Estate (NYSE:XIN) lost 1%. Breaking the tie was the Claymore/AlphaShares China Estate ETF (NYSE:TAO), which gained almost 1%.
Some of yesterday's biotech winners became biotech losers today with Tiens Biotech (NYSE:TBV) and Sinovac Biotech (NYSE:SVA) losing 2.2% and 1.6%, respectively. Agriculture name Agria (NYSE:GRO) built on yesterday's gains by adding another 2.6% today, but American Dairy (NYSE:ADY) tumbled 2.3%, showing no follow through on Tuesday's bullish trade.
A-Power Energy Generation Systems (Nasdaq:APWR) and China Fire & Security (Nasdaq:CFSG) continued to see some bearish trade as both names finished lower on Wednesday. China GrenTech (Nasdaq:GRRF) was another named that followed through on the downside, dropping more than 3% after yesterday's loss of 5.6%. CDC Corp. (Nasdaq:CHINA) did rebound today, gaining almost 4.4% on decent volume.
Consumption is expected to rise to 74 million tons in 2020 from 38 million tons this year while global capacity is expected to jump 47% to 66 million tons, the reported noted. Demand in China, the world’s largest consumer of the metal used for cars and houses, is forecast at 44 million tons in 2020, almost tripling from 16 million tons this year, fueled by increased production of automobiles, according to Bloomberg News.
The report said Japanese aluminum demand is expected to rise 26% by 2020. Japan is Asia's largest aluminum importer and is looking to make investments overseas to secure more supply.
The association said the aluminum market could sport a deficit by 2015 as rising energy prices lead to scaled back production.
The trade accord is designed to cut tariffs and boost Taiwan's relationship with the mainland, the top destination for Taiwanese exports. The two countries could make an announcement as early as Wednesday that includes a list of items that will be subject to lower tariffs.
The two sides are also trying to shorten the time needed for Taiwan banks to qualify for a license to conduct yuan business on the mainland, according to Bloomberg News. Taiwan has been a sovereign nation since 1949 though China has been adamant about its desire to control the island nation.
Among large-caps, solar stocks had a black cloud hanging over them today with JA Solar (Nasdaq:JASO) and LDK Solar (NYSE:LDK) both losing more than 6%. Trina Solar (NYSE:TSL) didn't fare much better, tumbling almost 5%.