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China stock market summary April 21, 2010

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cash2 April 21, 2010 (Chinavestor) Solar and energy stocks suffered but airliners and small cap stocks shined on Wednesday. The Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) managed to stay in the black while large cap proxy, iShares FTSE/Xinhua China 25 Index (NYSE:FXI), fell -1.4% for the day. The crude opened lower but ended the day unchanged - yet solar and energy stocks fell for the day. Canadian Solar (NASDAQ:CSIQ) tumbled -14.4% following an 2010 Q1 update. Trina Solar (NYSE:TSL) and LDK Solar (NYSE:LDK) made it to the worst performing Chinese ADRs of the day, measured in percentage change. China Integrated Energy (NASDAQ:CBEH) continued to show weakness and fell -4.2% for the day.

Chinese airliners shined - China Eastern Airline (NYSE:CEA) jumped +9.6% after an 11% jump in Hong Kong earlier the day. Chinese airliners released 2009 Annual Report showing significant improvement in passenger traffic and financial health. Small cap, momentum stocks from the overbought monitor this morning continued to lead- such as China Finance Online (NASDAQ:JRJC). Stocks on the move included China Technology Development Group Corp (NASDAQ:CTDC) and China-Biotics Inc. (NASDAQ:CHBT).

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Softness in the solar sector was not limited to Canadian Solar (NASDAQ:CSIQ). The company reaffirmed 2010 Q1 solar shipments to the upper end of previous estimates but a currency exchange rate charge kept investors off-guard, prompting a heavy selling.  Shares of industry heavy weights followed suit, Trina Solar (NYSE:TSL) and LDK Solar (NYSE:LDK) fell as well. China Integrated Energy (NASDAQ:CBEH), a bio diesel producer and distributor, continued to trail energy prices lower. The stock lost over -9% in the lasts five trading sessions, suggesting the bottom may be near. Check out the overbought / oversold report tomorrow morning.

China Eastern Airline (NYSE:CEA) reported 2009 Annual Report - beating analysts expectations. China Southern Airlines (NYSE:ZNH) reported a day earlier while Air China , China's flagship carrier, did so earlier the week. The yuan revaluation, lower oil/kerosene price and the Shanghai Expo all contributed to today's spectacular performance.

China Technology Development Group Corp (NASDAQ:CTDC) jumped 8.5% - may get overbought while China-Biotics Inc. (NASDAQ:CHBT) advanced 3.8%.

Baidu.com (NASDAQ:BIDU) reversed course and fell -$5.87, the most among Chinese ADRs on Wednesday. CNOOC Ltd. (NYSE:CEO), China's off-shore oil specialist, and Petrochina (NYSE:PTR), the largest oil producer of the country, fell on soft oil prices. Yanzhou Coal (NYSE:YZC), the third largest coal miner in China, fell -2.55% as energy prices retreated.

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