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Large cap China stocks continue to outperform on Tuesday

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economy_5 March 30, 2010 (Chinavestor) Large cap China stocks continue to outperform small cap counterparts thanks to strong money-flows. While the PowerShares Gld Drg Haltr USX China ETF (NYSE:PFJ) is trading only +0.5% higher by noon on Tuesday, large cap proxy iShares FTSE/Xinhua China 25 Index (NYSE:FXI) is up +1.3%. Chinese airliners, coal miners, oil, resource and metals plays all looks strong on Tuesday.

Smaller cap stocks remain volatile with UTStarcom (NASDAQ:UTSI) registering the highest percentage gains by noon. Semiconductor Manufacturing Int'l (NYSE:SMI) keeps surprising to the upside while significant surge in the stock price of China Infrastructure Investment Corp. (NASDAQ:CIIC) is more of an uptick then a liquid, broad based rally. ChinaCast Education (NASDAQ:CAST) reported better-than-expected earnings on Monday after the close explaining today's rally.

Significant stock moves to the downside include WSP Holdings Limited (NYSE:WH) and China TransInfo Technology Corp. (NASDAQ:CTFO). Despite a strength in the auto sector, like China Automotive Systems (NASDAQ:CAAS) on the NASDAQ or SAIC Motor (SHA:600104) in Shanghai, Tongxin Int. (NASDAQ:TXIC) is losing ground as earnings near. The solar sector is mixed today - weakness of LDK Solar (NYSE:LDK) is in sharp contrast to JA Solar (NASDAQ:JASO) or Yingli Green Energy (NYSE:YGE).

top2010330noon

Chinese large cap stocks got a boost last Friday when Chinese regulators gave final approval of margin trading, index -futures trading and short selling in the Shanghai Stock Exchange. Expectations run high that the most liquid stocks will get additional trading volume as additional trading opportunities arise. High volume translates to higher stock price in most cases, rushing investors to snap up shares of oil, bank and airliners before its too late.

Chinese airliners remain explosive just as is Yanzhou Coal (NYSE:YZC). Twenty one out of the twenty five components of the Xinhua 25 Index advanced in Asia this morning, tracing where the money is flowing.

But smaller cap China stocks remain volatile with UTStarcom (NASDAQ:UTSI) advancing +9.62% by noon, followed by China Technology (NASDAQ:CTDC) very closely. Semiconductor Manufacturing (NYSE:SMI) continues an erratic trading pattern with huge gap up in the morning on no particular news. Shares of SMIC (HKG:0981) advanced +10.5% in Hong Kong on Tuesday morning and the gap up on the NYSE is just a reaction to that advance.

ChinaCast Education Corp. (NASDAQ:CAST) 2009 full year revenues increased +23% to $51.0 million while net income jumped +116% to $13.5 million. More coverage under Press Releases on Chinavestor.com.

JA Solar (NASDAQ:JASO) is the sixth best performing China stock today highlighting the fact that LDK Solar's (NYSE:LDK) ills are not industry wide. Snapshot of Chinese solar plays at noon, including JA Solar (NASDAQ:JASO), Suntech Power (NYSE:STP), Trina Solar (NYSE:TSL) and Yingly green Energy (NYSE:YGE).

JASO_2009Q4_revearnings

Shares of China Automotive Systems (NASDAQ:CAAS) continue to show strength but smaller Tongxin International (NASDAQ:TXIC) continues to head south ahead of earnings. CAAS reported record revenue and profit growth last week sending shares of the company to all time highs. CAAS beats 2009 Q4 estimates.

But it's not a cake walk for everybody within the transportation industry. Shares of Transinfo Technology (NASDAQ:CTFO) have been on a slide since earnings release earlier the month. CTFO give up mornings gains by the close.

top2010330noon_chart

Investors were not much impressed by the latest numbers of WSP Holdings Limited (NYSE:WH) sending shares of the company -5.1% lower by noon. Net revenues fell -56.6% from previous quarter but fell for all of 2009 compared to 2008 as well. Don't expect the company to recover anytime soon - more slide is very likely...



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