April 5, 2010 (Chinavestor) Energy stocks helped the DJIA to flirt with 11,000 pulling Chinese stocks on its back. Petrochina Co. (NYSE:PTR), the largest Chinese oil producer, advanced the most among Chinese ADRs in dollar terms by gaining $2.39 or 2.01% by the close. Strong oil prices helped solar stocks, Trina Solar (NYSE:TSL) advanced +3.68% or $.90 by the close. Small cap stocks led the advanced in percentage points. Big movers in the afternoon include oversold Spreadtrum Communications (NASDAQ:SPRD). The oversold monitor alerted invests that the stock might pop any minute. Shares of Baidu.com (NASDAQ:BIDU) rose $1.30 to close above $600 again. The stock has been plateauing at the $600 mark for over two weeks by now. We spotted the uptrend in Harbin Electric (NASDAQ:HRBN) and in Huaneng Power Int. (NYSE:HNP), the largest Chinese independent power producer.
Melco Crown Entertainment (NASDAQ:MPEL) rose +10.1% after JP Morgan analyst Carlo Santarelli upgraded the stock. Sutor Technology (NASDAQ:SUTR) advanced 6.9% nut is still well below January 2010 highs.
Tiens Biotech (AMEX:TBV) fell -6.9% following 2009 full year financials. The company reported deteriorating revenues and net income. Revenues for 2009 were only $62.0 million vs. $77.2 million in 2008. Net income or profit fell to $24.8 million vs. $30.0 million a year ago.
Shares of Xinyuan Real Estate Co., Ltd. (NYSE:XIN) fell for no particular reason -but we noted a one huge block trade of 104.500 shares at $3.86 in the morning trade. Significant money outflows spelling trouble ahead...
When it comes to Chinese solar plays, Trina Solar (NYSE:TSL ) advanced the most in dollar terms today. The strength of the sectors was predictable, we just wrote this morning that "But high oil price helps Chinese solars like ReneSola Ltd. (NYSE:SOL) on the overbought screen." China stocks to watch as trading resumes on Monday.
Spreadtrum Communications (NASDAQ:SPRD) fell eight times out of the last ten trading sessions and became oversold. We noted this in the oversold report several times last week - and picked the stock for the TOAST BUY List for the week. Read more about Advanced membership benefits. Today's +9.11% gain was just too good to miss. Hope you didn't.
WSP Holdings (NYSE:WH) became oversold and today's bounce back up was somewhat predictable. But don't bet on a sustained recovery yet, the stock is down on weak 2009 fourth quarter and FY numbers and is expected to stay low for some time. WSP plunges as 2009 Q4 net loss widens.
Oil stocks dominated on Monday, measured in dollar change. Shares of Petrochina (NYSE:PTR), the largest Chinese oil producer, advanced $2.39 followed by CNOOC Ltd. (NYSE:CEO) and Asia's largest refiner, Sinopec (NYSE:SNP). Baidu.com rose $1.30 and closed above $600 again. China's dominant search engine hit a resistance at $600 with no indication if more upside was coming after a huge +46.2% rally YTD. Home Inns & Hotel Management (NASDAQ:HMIN) caught fire - part of it is due to strong earnings and negative investor reaction. Don't be goofed by Q4 results. Home Inns remains undervalued.
Slide on the downside was tamed thanks to a strong market day. But it is important to notice the significant change in direction in the trading of AsiaInfo Holdings (NASDAQ:ASIA). The stock advanced +4.6% last Thursday but fell the most in dollar terms the next trading day.