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China stocks at lunch, March 19, 2010

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cash_1 March 19, 2010 (Chinavestor) Shares of City Telecom (NASDAQ:CTEL) surged +19.1% in the morning, a performance not matched by any China ADR today. China Integrated Energy (NASDAQ:CBEH) comes the closest with a +4.1% advance. Shares of Acorn International (NYSE:ATV) bounced back up +3.4% after three days of losses.  China Southern Airline (NYSE:ZNH) continued to surge.

Stocks with the steepest fall today include Tongxin International (NASDAQ:TXIC). Weakness is not limited to the stock; shares of China Automotive Systems (NASDAQ:CAAS) fell -2.24% the same time. Troubles for FUQI International (NASDAQ:FUQI) continue to mount as more and more law firms investigate any wrongdoings. Shares of Origin Agritech (NASDAQ:SEED) fell just as much as that of Fushi Copperweld (NASDAQ:FSIN). China Finance Online (NASDAQ:JRJC) continued to surrender gains recorded after a strong 2009 Q4 results.

Details: The sudden jump of City Telecom (NASDAQ:CTEL) may come to surprise many but technical indicators have foretold that a rally was imminent. Oversold CTEL rocks the house.

Shares of China Integrated Energy (NASDAQ:CBEH) has taken a rocky road but a road that heads north, following better-than-expected financial disclosures. The good news is that a team from Chinavestor, including myself, will meet Mr. Albert Pu, CFO of the company this very afternoon in Westport, CT to discuss latest trends. Follow up on Chinavestor for additional coverage.

Shares of Acorn International (NYSE:ATV) advanced +3.4% as investors came to think about the fall following 2009 Q4 numbers. Our analysis reveals that current downtrend is justified and investors should think twice about investing into ATV at the moment. Five reasons to shun ATV after 2009 Q4.

China Southern Airlines (NYSE:ZNH) has been erratic at best lately as investors are trying to assess effect of the latest cash infusion, plane delivery and additional routes before the summer holiday season. Shares of China Eastern Airlines (NYSE:CEA) have been just as strong as that of smaller China Southern Airlines (NYSE:ZNH) or Air China (HKG:0753). The sector pulled the Hang Seng Index this morning, as reported China stocks continue to recover in Asia.

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Shares of Tongxin International (NASDAQ:TXIC) fell the most by noon among U.S. listed China stocks. This commercial vehicle parts maker is under pressure along the rest of the industry for two reasons. For one, credit tightening combined with China's exit from the stimulus is expected to soften demand for autos. And for two, Brilliance Auto (HKG:1114) issued profit warning today, pressuring the sector.

Shares of Fuqi International (NASDAQ:FUQI) continue to deteriorate after the company issued a warning that it has to restate earnings for three previous quarters. Law firms jumped on allegations of intentional wrongdoings and as such the stock price tanked. FUQI lost -44% of its market cap in the matter of days - though the restatement of earnings itself would be much much less severe. Don't panic FUQI Investor!

Shares of Fushi Copperweld (NASDAQ:FSIN) gave up all previous gains and accelerates south as investors digest latest financial results of the company. Fushi Copper reports record profit, strong sales - but guides lower.

Shares of China Finance Online (NASDAQ:JRJC) fell -5.3% by noon today - albeit low volume. All of previous earnings related gains of +17% have evaporated by now sending shares of the company back to square one. KongZhong up 17%. Will it last? - we wrote questioning the rational behind the strong rally. Time has proven us right.



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