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China stocks slip by noon, April 15, 2010

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decline_7 April 15, 2010 (Chinavestor) Looking at Chinese ADRs at noon today, small cap stocks remain volatile while large caps followed the market lower. But the real distinction today is between U.S. companies conducting the lion share of their business in China  - and Chinese companies listed in U.S. exchanges. As the following screen suggests the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ), measuring the performance of U.S .companies conducting business in China, is way ahead of the iShares FTSE/Xinhua 25 Index (NYSE:FXI), the proxy for large cap Chinese stocks. The PGJ is also ahead of the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO), a proxy for the performance of small cap Chinese stocks.

top_2010415_noon_etf

China Hydroelectric Corp. (NYSE:CHC) isn't among the most volatile stocks today, but value investors may be interested in a compelling story we published today: CHC - walk the walk.

Stocks on the move by noon include China Information Security Tech, Inc (NASDAQ:CPBY), volatile Yucheng Technologies Limited (NASDAQ:YTEC), oversold Jinpan international (NASDAQ:JST) and China Technology Development Group Corp (NASDAQ:CTDC). Melco Crown Ent. (NASDAQ:MPEL) is hurt by an analyst downgrade while overbought Xinhua Sports & Entertainment Ltd (NASDAQ:XSEL) is taking a breather after two days of strong rallies. For more big movers of the day see chart right below.

top_2010415_noon_chart

China Hydroelectric Corp. (NYSE:CHC) has just been added to the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) in a relatively short period of time following an IPO earlier in 2010. The stock is under the radar but once first quarter earnings come out, expect this stock to draw some serious attention. It's not that I know what the numbers are going to be - because I have no idea - but that this is going to be the first in the history of the company. Should numbers be impressive, bet CHC is going to trading much higher.

China Information Security Tech, Inc (NASDAQ:CPBY) was trading 5.47% higher by noon following news that the company upped its 2010 H1 revenue target. With China going towards a national, digital grid, CPBY has a compelling story...

Yucheng Technologies (NASDAQ:YTEC) fell apart in January 29 following disastrous 2009 Q4 numbers. Net loss widened and outlook worsened. Current volatility is part of a wider search for direction from the $4 range. Related story: Yucheng Technologies dead cat bounce.

Jinpan International (NASDAQ:JST) is up over 5% by noon - but this is just a technical correction. We wrote earlier today in the overbought / oversold report that "stocks that have bottomed out and are ready for a turn around include China Infrastructure Investment Corp. (NASDAQ:CIIC), Jinpan International (NASDAQ:JST),.." and this is what's happening to Jinpan Int. China stocks to watch on April 15, Thursday.

The unusual rally of China Technology Development Group Corp (NASDAQ:CTDC) is caught on our stock monitor.  Low volume suggests the rally might not extend too far from here...

Melco Crown Ent. (NASDAQ:MPEL) is hurt by an analyst downgrade. Credit Suisse analyst downgraded the stock to a HOLD from BUY - but the price target is still well above current stock price. Nevertheless investors got spooked by the downgrade.

The overbought monitor noticed the unusually large jump in the price of Xinhua Sports & Entertainment Ltd (NASDAQ:XSEL) this morning. While the stock haven't reached theoretical highs yet, negative market sentiment took a toll on XSEL sooner than expected.

 



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