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Oil, money flows help large cap China stocks

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cash1 March 30, 2010 (Chinavestor) Large cap Chinese stocks continued to outperform smaller counterparts on Tuesday. Most of the advance in the China ADR Index (CAI) and the NYSE:FXI, measuring the performance of the 25 largest Chinese listed companies, is due to the +1.6% advance of Petrochina (NYSE:PTR). But shares of index heavy weight China Mobile (NYSE:CHL) and China Life Insurance (NYSE:LFC) advanced as well thanks to strong money flows. These three companies make up of over 50% of total market value of the China ADR Index, compiled by Chinavestor. One of the most widely used proxy for small cap China stocks, NYSE:HAO, rose only +0.7%.

top2010330etfend

Tiens Biotech Group (AMEX:TBV) leads percentage point movers but the +13.5% jump today is a results of one trade of 7,300 shares right at the close. LDK Solar (NYSE:LDK) fell -7.8% or -$.55 following a conservative 2010 Q1 revenue guidance.

Stocks on the move: shares of China Eastern Airline (NYSE:CEA) advanced +$1.93 followed by Petrochina's +$1.86 move. Sohu.com (NASDAQ:SOHU) rose +$1.66 while China Telecom (NYSE:CHA) jumped +$1.15 higher. Sinopec Shanghai Petrochemical (NYSE:SHI) published its 2009 Annual Report yesterday and advanced +$.84 today. Baidu.com (NASDAQ:BIDU) fell below $600 and shares of Chinese auto part makers fell. China Automotive Systems (NASDAQ:CAAS) followed the market lower just as did Tongxin Int. (NASDAQ:TXIC) and China TransInfo Technology Corp. (NASDAQ:CTFO). Problems for China Unicom (NYSE:CHU) continue to mount but weakness of Sina Corp. (NASDAQ:SINA) comes as a surprise.

WSP Holdings Limited (NYSE:WH) fell as net loss widened while ChinaCast Education (NASDAQ:CAST) advanced as revenues, net income hit new records.

top2010330chart_end

Chinese airliners remained explosive as investors bet on the revaluation of the yuan in the second part of the year. Given that most of airliners' debt is denominated in US$ while their revenue is in yuan, a stronger yuan means more income relative to debt. China Eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) advanced +3.80% and +4.02% today, respectively.

Chinese oil producers advanced on the back of a strong crude price. Petrochina Co. Ltd. (NYSE:PTR), the largest Chinese oil producer, rose $1.86 while shares of CNOOC Ltd. (NYSE:CEO) advanced $.77 ahead of earnings. Petrochina (NYSE:PTR) reported 2009 financials already, Petrochina 2009 net down on lower crude price.

China Telecom (NYSE:CHA) advanced +2.35% but is getting overbought! The stock was one of the most overbought stock this morning and while we said more upside is possible, the risk is now greater than upside potential. China stocks watch list for March 30, 2010.

China Mobile (NYSE:CHL) advanced +.43% while China Unicom (NYSE:CHU) fell. All three Chinese telecoms reported 2009 financials, for a comprehensive analysis read China telecom industry in 2009.

Shares of Sohu.com (NASDAQ:SOHU) rose +$1.66 while rival Sina Corp. (NASDAQ:SINA) fell -$.26. Sohu.com was punished after 2009 Q4 earnings but the stock regained most of the lost ground as investors realized SOHU's numbers were not all that bad. Sohu '09 Q4 numbers from a distance.

LDK Solar (NYSE:LDK) felt a pinch today following 2010 Q1 revenue guidance of $310 million - $330 million. That number might be lower than many hoped for but is pointing to the right direction, according to the following chart.

LDK-09Q3_revenues

Shares of Baidu.com (NASDAQ:BIDU) fell -$5.30 to close under $600 but given the +45% advance YTD, catching some air makes perfect sense.

Chinese auto part makers fell today. Some of Chinavestor coverage include CTFO give up morning gains by the close and CAAS beats 2009 Q4 estimates. Tongxin Int. (NASADAQ:TXIC) is going to report in April.

Strong moving on earnings include ChinaCast Education Corp. (NASDAQ:CAST), a company that reported strong revenue and earnings growth plus guided higher. ChinaCast Education 2009 Q4 surprise.

In contrast to CAST's strong quarter and 2009 year, WSP Holdings (NYSE:WH) reported record loss and plunging 2009 revenues... WSP plunges as 2009 Q4 net loss widens.



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