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Large cap stocks lead China stocks higher at noon

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advance_8 April 26, 2010 (Chinavestor) Shares of Chinese companies are generally trading higher on Monday, large cap stocks taking the lead. Volatile small cap stocks are on the top of the most advancing China stock list, measured in percentage change, but the advance of large cap stocks is almost universal. Energy stocks, airliners - CNOOC Ltd. (NYSE:CEO), Yanzhou Coal (NYSE:YTZC), China Eastern Airlines (NYSE:CEA) - have advanced substantially by noon

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Shares of WuXi Pharmatech (NYSE:WX) is off the chart - the company became a target of Charles River Labs. (NYSE:CRL). The offer price is $21.25/ADR, out of which $10 is in cash and the rest in stock. Shares of Charles River Lab. (NYSE:CRL) fell -15% on the news while WuXi jumped 17.4%.

City Telecom (NASDAQ:CTEL) is another stock of interest. Shares of the company advanced +7.2% last week and the rally hasn't been exhausted. Chinavestor spotted a similar pattern at 51job Inc. (NASDAQ:JOBS) and China Automotive Systems (NASDAQ:CAAS).

Chinese real estate stocks China Housing & Land Development (NASDAQ:CHLN) fell -3.0% as investors in Shanghai are bogged down by the government's efforts to coll off China's property market. Valuations are low suggesting bottom fishing time is near. China Vanke (SHE:200002), the largest Chinese listed property developer, reported a mere 2.8% increase in March sales, suggesting the sector is facing a tough quarter ahead.



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