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China stocks tumble by noon, April 19, 2010

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decline_8 April 19, 2010 (Chinavestor) It's hard to find China stocks with an uptick on Monday at noon as jittery markets sent shares of Americas and Chinese companies lower. Financial stocks got a surprise lift from Citigroup (NYSE:C) as first quarter profit exceeded expectations. But oil and energy stocks trade lower as fallout of the volcano and Goldman (NYSE:GS) keeps investors on the defense. Property related stocks lead the decline among U.S. listed Chinese stocks following harsh measures on the Mainland.

Chinese stocks with sizable upside move include WuXi Pharmatech (NYSE:WX) and ChinaEdu Corporation (NASDAQ:CEDU). City Telecom (NASDAQ:CTEL) has surrendered some of early morning gains by noon.

Stocks deep in the red include China Real Estate Information (NASDAQ:CRIC), E-House Holdings (NYSE:EJ), Canadian Solar (NASDAQ:CSIQ), China Integrated Energy (NASDAQ:CBEH) and Shanda Games (NASDAQ:GAME). Liquid Ctrip.com (NASDAQ:CTRP) and China Automotive Systems (NASDAQ:CCAS) are also among notable movers.

Large and small cap China stocks are suffering alike, the ETFs trailing these two different set of stocks have declined just about the same by noon.

top_2010419_noon_etf

WuXi Pharmatech (NYSE:WH) have been suffering since 2009 Q4 financials turned off investors. Today's show of strength is more of a technical re-bounce than a fundamentally driven, long term resurgence. WuXi Pharma lacks growth, promises more.

Small cap, less liquid China plays on the move include ChinaEdu Corp. (NASDAQ:CEDU) and ATA Inc. (NASDAQ:ATAI) - but these penny moves shouldn't misled investors.

City Telecom (NASDAQ:CTEL) lost most of early morning gains by noon - but this stock has a potential to shine throughout the week. The stock has advanced +315% in the last 52 weeks but took a breather last week - suggesting the uptrend may resume any time from now on.

Stocks on the red include real estate companies after Chinese authorities introduced new measures to cool off the property market. Banks are banned from giving loans for third homes and rules to get loans severely tightened after property prices rose a record 11.7% in March in China. Shares of China Real Estate Information (NASDAQ:CRIC) tumbled -11.0% while E-House Holdings (NYSE:EJ) lost -8.4% by noon.

Goldman Sachs (NYSE:GS) and Icelandic volcano related uncertainties put investors on the defense, strengthening the dollar and sending oil and commodity prices lower. Solar stocks suffered, Canadian Solar (NASDAQ:CSIQ) tumbling -7.7%. We highlighted a week ago that solar stocks became vulnerable - Solar stocks shine - will it last?

China Integrated Energy (NASDAQ:CBEH) is down with the rest of the market. The -6.4% tumble by noon is thanks to its relatively smaller size and its past performance. As the following link explains, China Integrated (NASDAQ:CBEH) has been outperforming the rest of the sector by a wide margin in the past three month - so today's slide is part of a wider correction. Click here for a comparative chart.

Profit taking took a toll on larger, liquid, NASDAQ listed China plays such as Ctrip.com (NASDAQ:CTRP) or China Automotive Systems (NASDAQ:CAAS) while Shanda Games (NASDAQ:GAME) is leading the online sector lower.



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