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China stocks market update 1:30 March 5 2010

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questionmark March 5, 2010 (Chinavestor) Earnings, strong jobs data effect Chinese stocks as the afternoon trading kicks in. Strong economic data pushed oil and commodity prices higher as investors bet on increasing demand will keep prices high. CNOOC Ltd. (NYSE:CEO), China's off-shore oil specialist, advanced $3.51 or 2.33% on Friday as the price of barrel reached $81.67. Petrochina Co. (NYSE:PTR), the largest oil producer in China, rose $3.31 followed by Asia's largest refiner, Sinopec Corp. (NYSE:SNP).  China Eastern Airline (NYSE:CEA) bounced off previous lows - the stock fell four days in a row for the week before turning around today. Stocks on the move include Sina Corp. (NASDAQ:SINA), Home Inns & Hotel Management (NASDAQ:HMIN) and NetEase.com (NASDAQ:NTES), Baidu.com (NASDAQ:BIDU), among others.

 

Shares of Sina Corp. (NASDAQ:SINA) continue to advance after reporting 2009 strong fourth quarter earnings earlier the week. Read Guidance, earnings hurt Sina.

Shares of Home Inns & Hotel Management (NASDAQ:HMIN) advanced +3.64% on Friday as investors digested latest financial report. Shares of the company fell on Thursday - yet we remained bullish based on fundamentals. Read : Don't be goofed by Q4 results: Home Inns remain undervalued

Shares of NetEase.com Inc. (NASDAQ:NTES) advanced +3.00% in the afternoon as more earnings from the online game sector rolled in. The company is seen as the best online gamer right now thanks to robust revenue AND earnings growth in the fourth quarter. For a comprehensive analysis of the online game sector, read: China Online game landscape as earnings roll in.

Shares of Solarfun Power Holdings (NASDAQ:SOLF) fell -8.7% on Friday as earnings disappointed. Revenues rose but earnings fell - with more volatility on the bottom line ahead. But profitability have returned into the sector as PV shipments rose and margins stabilized. Read: Solarfun profits fell, guides higher.

Shares of Baidu.com (NASDAQ:BIDU) fell $2.31 but is no way an indication about future price movement of the stock. BIDU broke thought the $500 mark for the first time in February after a gangbusters fourth quarter earnings but is lacking direction at current prices.

China Digital TV (NYSE:STV) is trading -2.53% lower on Friday but comes as a no surprise - according to the overbought monitor. Read: Overbought China stocks to watch out on Thursday.


Best and worst Chinese stocks, sorted by $ change

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