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.
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.