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China stock market at noon, March 18, 2010

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buy-sell March 18, 2010 (Chinavestor) Oil, earnings have been moving China stocks today. Price of the crude fell -1.23% to $81.96 a barrel, hurting oil and solar stocks the most. Trina Solar (NYSE:TSL) lost -8.5% today while Suntech Power (NYSE:STP) is trading -2.9% lower at noon. Falling oil prices spurred investors interest to airliners. Earnings have been another important factor as smaller cap Chinese stocks continue to report financials. Shares of KongZhong Corp. (NASDAQ:KONG) gave back -4.8% so far today after a +20% rally a day before. Shares of Harbin Electric (NASDAQ:HRBN) are trading -5.2% lower as energy prices subside. The company reported earnings two days earlier. Stocks on the positive include China Sky One Medical (NASDAQ:CSKI), a stock that's up +5.4% after a 15% dive a day before. Shares of Focus Media Holdings (NASDAQ:FGMCN) are trading +3.4% higher while Semiconductor Manufacturing (NYSE:SMI) is up +5.9% by noon.

Shares of China Eastern Airlines (NYSE:CEA) are trading +6.1% higher while China Southern Airlines (NYSE:ZNH) is up +5.2%. The rally was foretold - both airliners advanced strongly in Hong Kong - see best five components of the Hang Seng Index below. Shares of Air China (HKG:0753) advanced +2.0%, making it the best stock among the Xinhua 25 Index components.

Shares of China Sky One Medical (NASDAQ:CSKI) bounced back off after an over twenty percent drop yesterday. The sell-off was overdone in our opinion - most if the disappointment was a result of overly optimistic expectations. CSKI falls on earnings. But wait a minute!

Shares of Focus Media Holdings (NASDAQ:FMCN) experienced a highly volatile two days trading session after fourth quarter numbers. The excitement is understandable, Focus Media rattles nerves with Q4 numbers.

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Stocks on the negative include solar plays such as Trina Solar (NYSE:TSL). There is no company specific news out there to justify the weakness but when oil falls, so is demand for solar. Conventional wisdom holds that solar makers make money when price of oil is above $60/barrel. If that's the case current sell-off of TSL looks irrational. To gauge how does TSL measure up to the rest of the sector, including industry leader Suntech Power (NYSE:STP), read Complete 2009 Q4 China solar stocks guide.

Shares of HQ Sustainable Maritime (AMEX:HQS) continue to show weakness. Shares of the company are considered oversold - but when a small cap AMEX stock gives way, no one knows where the bottom is. Read Oversold China stocks ready to bounce back.

Shares of KongZhong Corp. (NASDAQ:KONG) made a complete reversal from yesterday. The stock was the best performing China ADR on Wednesday but failed to hold on to gains and is now among the worst five China stocks of the day. Shares of the company are trading -4.8% lower at noon. We were of a view that the 20% surge was too optimistic - read KongZhong up 17%. Will it last?

And finally, a stock that's not as volatile but is certainly a great value stock, China Mobile (NYSE:CHL).  The company reported 2009 full year number today passing by analysts estimates. We have liked this company for a long time and our assessment proved to be true. China Mobile is on the Conservative and Growth portfolios, a stock pick that was a great choice for March. Read: China Mobile 2009 beats expectations.



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