April 28, 2010 (Chinavestor) From best to worst - goes China Infrastructure Investment Corp (NASDAQ:CIIC) from Tuesday to Wednesday. On the other hand, China BAK Battery Inc. (NASDAQ:CBAK), a stock that fell the most on Tuesday, advanced +5.0% by noon, the most among Chinese ADRs. Chinese solar plays firmed up, oversold Canadian Solar (NASDAQ:CSIQ) and JA Solar (NASDAQ:JASO) holdings made it to the top ten China ADRs by noon. China Unicom (NYSE:CHU) and China Southern Airlines (NYSE:ZNH) followed suit in New York after their H-shares jumped higher in Hong Kong earlier the day.
Shares of Jinpan International (NASDAQ:JST), a seemingly boring stock in the past five days, dived -24.3% as preliminary 2010 Q1 results disappointed. China Infrastructure Investment Corp (NASDAQ:CIIC), a stock that advanced over +25% in the last five days, came to a halt or rather a sell-off.
China Unicom (NYSE:CHU) and China Southern Airlines (NYSE:ZNH) advanced +3.8% and +3.04%, respectively - a move that was foretold in the pre-market report. "Two NYSE-HKEx cross-listed stocks, China Unicom (HKG:0762) (NYSE:CHU) and China Southern Airlines (HKG:1055) (NYSE:ZNH), advanced in Hong Kong on Wednesday." World markets tumble on Greek worries.
Chinese solar stocks bounced back up - shares of Canadian Solar (NASDAQ:CSIQ) and Solarfun Power Holdings (NASDAQ:SOLF) rose +3.3% and +1.9%, respectively. The dollar stopped climbing and price of oil rose - both supporting solar stocks. Solar stocks and the dollar.
Sinopec (NYSE:SNP), the largest refiner in Asia, reported better-than-expected 2010 Q1 results. While oil production remained flat, natural gas production jumped +41%, and refining activity picked up +20.4% in 2010Q1 vs. same period last year. Sinopec 2010 Q1 net jumps on steady margins.
These results are in line with Petrochina's (NYSE:PTR) 2010 Q1, released just a day before. Petrochina net profit, oil production up in 2010 Q1.