Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

China stock market summary April 5, 2010

E-mail Print PDF

oil_offshore1 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.

Tumbling stocks included Tiens Biotech (AMEX:TBV) on earnings and Xinyuan Real Estate Co., Ltd. (NYSE:XIN) on money flows.

top_201045_etf

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.

top_201045_chart

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.

 



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!