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China stock market summary May 12, 2010

China stock market summary May 12, 2010

May 12, 2010 (Chinavestor) Earnings and a stock split drove Chinese stocks higher in New York on Wednesday. Strong U.S. market sentiment carried Chinese ADRs on its back but strong earnings from (NASDAQ:CTRP), China Digital TV Holding (NYSE:STV), Home Inns & Hotels Management (NASDAQ:HMIN) gave them additional boost they needed to outperform. Larger cap China stocks outperformed small caps as is evidenced by the performance of the iShares FTSE/Xinhua 25 Index (NYSE:FXI) vs. the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO). The FXI rose 0.5% for the day while small cap proxy HAO fell -0.2% on Wednesday. (NASDAQ:BIDU) rose 9.5% after a 10:1 stock split made its stock price affordable.

China Integrated Energy (NASDAQ:CBEH) fell -10.3% despite a strong quarter. Investors were dismayed by a disappointing guidance.

American Oriental Bioengineering (NYSE:AOB) continued to suffer after a weak 2010 Q1 just as did Xinhua Sports & Entertainment (NASDAQ:XSEL).

Revenues and earnings of China Digital TV Holding (NYSE:STV) were in-line with expectations but that was enough for the stock to take off. Shares of the company fell tend days in a row from April 26 to May 6, making it an appealing buy as earnings were not as disastrous as many feared. What's the big jump in STV for? International (NASADAQ:CTRP) delivered what is was supposed to: strong revenue and earnings growth. The company keeps growing at a high speed, according to the latest financials. Ctrip 2010 Q1 doesn't disappoint.

Home Inns & Hotels Management (NASDAQ:HMIN) advanced +7.63% thanks to a record revenue and strong 2010 Q2 guidance. The nature of the business remains cyclical but the company is well positioned to record another blockbuster quarter three months from now. Home Inns & Hotels delivers sound 2010 Q1. (NASDAQ:BIDU) advanced +9.5% after a double digit gain from Monday to Tuesday. The stock is volatile, for one. But today's catalyst came from a 10:1 stock split making shares of BIDU more appealing to retail investors. The $700/ADR price was too much fro most investors. Increased volume means price appreciation, as we all know it. Part of BIDU's strength contributed to the sound performance of the iShares FTSE/Xinhua 25 Index (NYSE:FXI). (NASDAQ:CTRP) is another larger NASDAQ listed China play that advanced today. (NASDAQ:SOHU) and  Sina Corp. (NASDAQ:SINA), another internet heavy weights rose 2.5% and 4.0%, respectively following record earnings from Tencent (HKG:0700), a bellwether for internet ad spending.

Chinese airliners suffered in New York just as much as in Hong Kong. We wrote this morning that "But Chinese airliners continued to suffer, China Eastern Airlines (HKG:0670) (NYSE:CEA) and China Southern Airlines (HKG:1055) (NYSE:ZNH) fell for the fifth day in a row." From this respect CEA's and ZNH's weakness was foretold and came as no surprise. But such a steep fall is unusual, suggesting the bottom is near! China stocks pare losses in afternoon rally in Asia.

China Integrated Energy (NASDAQ:CBEH) reported record revenues of over $100 million and profitability remained strong, but issued a conservative guidance below what the Street was looking for. Shares of the company fell -10.3%. CBEH down -9% following 2010 Q1 numbers.

For more earnings related analysis and coverage: China stock earnings calendar, May 10-14, 2010.


Oversold China stocks swing the most by noon

Oversold China stocks swing the most by noon

May 10, 2010 (Chinavestor) Shares of Wonder Auto Technology (NASDAQ:WATG) surged +13.08% followed by (NASDAQ:CTRP) with a 13.06% jump by noon, on Monday. Chinese solar stocks shined, just as predicted in the 'Oversold stock for Monday' report this morning.

The following solar makers advanced double digits by noon: ReneSola Ltd. (NYSE:SOL), LDK Solar (NYSE:LDK), Train Solar (NYSE:TSL) and Suntech Power (NYSE:STP).

For other big movers of the day, see chart below:

Wonder Auto Technology (NASDAQ:WATG) and (NASDAQ:CTRP) were the two most oversold China stocks before the open on Monday. We highlighted both stocks, besides a long list of other China plays, as stock of interest.

Most oversold China stocks, May 10, 2010 Monday at 8:00 A.M.

Solar stocks surged for three reasons:

  • Higher oil price makes solar power economically more viable
  • Stronger Euro makes them more profitable - selling in Germany and Spain and converting it into $
  • ReneSola Ltd. (NYSE:SOL) reported better-than-expected 2010 Q1 before the open, reaffirming the fundamental strength of the sector. ReneSola swings back to profit, bright outlook
But it wasn't just ReneSola (NYSE:SOL) but China Sunergy (NASDAQ:CSUN) that reported strong revenue, earnings growth and swung back to profit for the first quarter of 2010 as well. CSUN 2010 Q1 back to profit. Industry leaders LDK Solar (NYSE:LDK), Trina Solar (NYSE:TSL) and Suntech Power (NYSE:STP) took off following a favorable change in all three reasons mentioned above.

China Stock Earnings Calendar May 10-14

China Stock Earnings Calendar May 10-14

May 14, 2010 (Chinavestor) The following Chinese companies are scheduled to report financial results for the first quarter ended March 31, 2010 starting May 10.


China stock market summary May 7, 2010

China stock market summary May 7, 2010

May 7, 2010 (Chinavestor) Despite a 139.89 points drop in the DJIA, bottom fishers have started to pick up value China stocks on Friday. Resource, energy stocks rallied, Aluminum Corp. of China (NYSE:ACH) advanced +2.6% while Yanzhou Coal (NYSE:YZC), the third largest Chinese coal miner, rose +4.9%. Better than expected earnings propelled 51Job Inc. (NASDAQ:JOBS) and Cogo Group (NASDAQ:COGO) higher. Nevertheless volatility remained high as Greece's debt crisis continues to unfold.

Investors have started to snap up assets of oversold large cap Chinese companies. The iShares FTSE/Xinhua 25 Index (NYSE:FXI), measuring the performance of the 25 largest publicly traded Chinese companies in Hong Kong, advanced +1.3% on Friday. Index heavy weight Petrochina (NYSE:PTR) and China Mobile (NYSE:CHL) advanced +1.25% and 0.94%, respectively.

Smaller cap China stocks remained volatile. Synutra International (NASDAQ:SYUT), a stock that was holding up well in the midst of the sell-off, succumbed to pressure and fell -11.9% on Friday. Wonder AutoTechnology (NASDAQ:WATG) and CNinsure (NASDAQ:CISG) tumbled double digits in percentage points as well.

To see a list of the most volatile stocks on Friday, visit chart below.

51Job Inc. (NASDAQ:JOBS) earnings related coverage on Chinavestor: 51job Inc. ready to rumble on 2010 Q1 growth.

Cogo Group (NASDAQ:COGO) reported better-than-expected first quarter report after the close on Thursday and advanced +6.0% on Friday. Cogo tumbles before 2010 Q,1 but surprises to the upside.

For a thorough assessment of the China stocks universe: May 2010 Newsletter: 2010 first quarter earnings season is on. Investor, how are you doing?

DJIA, China ADRs plummet as Greece's crisis looms

DJIA, China ADRs plummet as Greece's crisis looms

May 6, 2010 (Chinavestor) The DJIA fell over 1,000 points but finished the day -3.2% thanks to a last hour rally. The sell-off was universal, each and every component of the DJIA ended the day lower. This sell-off was similar to Shanghai earlier today when each and every component of the SSE-50, the index tracking the fifty largest publicly traded China stocks, fell.  Chinese ADRs suffered along U.S. indices; energy, solar and real estate stocks feeling the heat the most. Price of the crude fell 3.6% to $77.11 hurting energy stock while solar plays suffered under the stronger dollar in addition. Strong earnings lifted China Automotive Systems (NASDAQ:CAAS) but 90 percent of Chinese ADRs ended the day in the red.

The panic on Wall Street was a result of Greece's difficulty to shove down the tightening measures on people's throat. Violent demonstrations crippled public services and the nation, making investors wonder if Greece can be saved from bankruptcy. This risk lifted the dollar to a 14 month high against the euro, hurting energy, commodity prices but pushing the gold to a fresh 5 months high. Treasuries soared as investors quit equity markets and found safety in government bills.

On the Chinese stock level, oil, solar, and real estate stocks suffered the most. To indicate the strength of the sell-off, consider that the ten worst performing Chinese ADR fell over -10%  each for the first time in 2010.

China Automotive Systems (NASDAQ:CAAS) reported solid 2010 first quarter financials before the open on Thursday. Shares of the company  advanced $.92 or 5.02% by the end of the day.

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