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 Ctrip.com (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.
Baidu.com (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?
Ctrip.com 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.
Baidu.com (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). Ctrip.com (NASDAQ:CTRP) is another larger NASDAQ listed China play that advanced today. Sohu.com (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.