April 20, 2010 (Chinavestor) Shares of Chinese companies took off on Tuesday. While the DJIA advanced only a mere 25.01 points or 0.23%, ETFs tracking Chinese ADRs advanced five times as much. The large cap China proxy, iShares FTSE/Xinhua China 25 Index (NYSE:FXI) rose 1.62% while the the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) advanced just under 1%. PowerShares Gld Drg Haltr USX China(ETF) (NYSE:PGJ) advanced 2.10%, outperforming true Chinese companies by a wide margin.
The rally was universal, stocks that advanced outnumbered those that fell ten to one from the Chinese ADR universe. China Information Security Tech, Inc. (NASDAQ:CPBY) was the best performing China ADR of the day, measured in percent change. New Oriental Education & Tech. Group Inc (NYSE:EDU) advanced on strong earnings, while Melco Crown Entertainment (NASDAQ:MPEL) experienced a technical re-bounce. Solar stocks shined, LDK Solar (NYSE:LDK) and Trina Solar (NYSE:TSL) taking the lead.
Stocks on the move, measured in dollar change, included Baidu.com (NASDAQ:BIDU), China Telecom (NYSE:CHA), CNOOC Ltd. (NYSE:CEO), Petrochina (NYSE:PTR) and Sohu.com (NASDAQ:SOHU).
Energy - oil and solar - stocks advanced on the back of strong oil price. CNOOC Ltd. (NYSE:CEO), China's off-shore oil producer, rose $2.20 while Petrochina Co. Ltd. (NYSE:PTR) advanced $1.86. ReneSola (NYSE:SOL) jumped 9.6% followed by LDK Solar (NYSE:LDK) with a 6.37% advance. Trina Solar (NYSE:TSL) rose 3.62% for the day.
Baidu.com (NASDAQ:BIDU) got back all of the losses from yesterday after a staggering +$22.34 or +3.6% advance. BIDU is less then $15 shy of the $650 level.
For a list of the most volatile stocks of the day - biggest advancers and decliners, see chart below.
On the earnings front, Huaneng Power (NYSE:HNP), New Oriental Education (NYSE:EDU), Aluminum Corp. of China (NYSE:ACH), China Mobile (NYSE:CHL), China Eastern Airlines (NYSECEA), and Semiconductor Manufacturing (NYSE:SMI) reported quarterly earnings.