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China stock market summary March 9, 2010

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money8 March 9, 2010 (Chinavestor) Tuesday was a big reversal day for the NASDAQ and other U.S. indices, goofing up China stocks investors on the side. Home Inns & Hotel Management (NASDAQ:HMIN) ended the day with a $-1.14 loss as investors took a second look at earlier results. Sina Corp. (NASDAQ:SINA) gave back some of earlier gains following earnings announcement last week. Shares of Focus Media Holdings (NASDAQ:FMCN), China Eastern Airlines (NYSE:CEA), China Telecom (NYSE:CHA) ended in the red as well.

China Life Insurance (NYSE:LFC) advanced on strong profit outlook while China Southern Airlines (NYSE:LFC) jumped as trading resumed. AsiaInfo Holdings (NASDAQ:ASIA) were trading above $30/share but failed to close above the psychologically important level.

Shares of Baidu.com (NASDAQ:BIDU) advanced the most in dollar term on Tuesday, advancing $4.77 with heavy underlying volume. Baidu.com has shown resilience as earnings were bulletproof, sending shares of the company above $500 for the first time at the end of February. Now BIDU is fighting its way to the $550 level, a landmark that the stock can clear if market conditions remain favorable.

Shares of China Southern Airlines (NYSE:ZNH) advanced $2.95 thanks to an analyst upgrade and cash injection from her parent company. But don't expect much upside for the stock given her already strong performance YTD.

China Life Insurance (NYSE:LFC) rose $2.15 for the day following news that the company is going to report at least 200% net income growth for 2009 compared to 2008. What's interesting about today's surge is that we published this information earlier on Monday but the Street didn't listen. It took investors a full day to digest such great news. Related story: China Life Insurance Profit Growth of 200% in 2009

AsiaInfo Holdings (NASDAQ:ASIA) is another liquid NASDAQ listed China play that some of our investors follow. The stock is up +20% for the last five days and strong underlying volume suggest more upside is possible.

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Stocks that disappointed investors on Tuesday include Home Inns & Hotel Management (NASDAQ:HMIN). The company reported revenue and earnings decline from previous quarter but our analysis reveals significant intrinsic value of the stock. We think HMIN is undervalued and has significant upside potential. Read related story: Don't be goofed by Q4 results: HMIN remains undervalued.

Another real estate and property related company, E-House Holdings (NYSE:EJ) reported fourth quarter and full year financial results today. The stock opened up lower but managed to come back somewhat to the close. Nevertheless EJ ended the day in the red - but we believe the stock is another good buy for the value investor. Related story: Banner year for EJ with cash dividend.

Shares of China Eastern Airlines (NYSE:CEA) ended the day -$.54 lower after a boring session. Shares of the company advanced 5 days in a row the last week in February just to make a complete reversal and lose 4 days in a row. We are of a view that CEA is still looking for direction and volatility is going to stay.

Shares of China Telecom (NYSE:CHA) fell $-.36 -as we predicted this morning using the overbought/oversold report. We wrote this morning that "Hong Kong listed H-shares of China Telecom (HKG:0728) fell -0.80% today suggesting profit taking has started in Asia. We have said for two day that large cap NYSE listed stocks like China Telecom (NYSE:CHA) don't stay overbought for a long time and as such take profits. Hope you listened to this advice and maximized your profits." Related story: Risk increases as China stocks advance.



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