Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

Energy, BIDU lead China stocks higher at noon

E-mail Print PDF

 

advance3 April 29, 2010 (Chinavestor) Coal, oil, solar and internet stocks lead China ADRs higher by noon on Thursday. Strong earnings propelled shares of Baidu.com (NASDAQ:BIDU) up +13.6% while energy stocks gained on strong oil price and optimistic economic outlook. Shares of Yanzhou Coal (NYSE:YZC) advanced +9.0% followed by China Sunergy Co (NASDAQ:CSUN). Industry leader Trina Solar (NYSE:TSL) is up +6.3% by noon. Shares of CNOOC Ltd. (NYSE:CEO) advanced $1.38 on strong quarterly results. China Telecom (NYSE:CHA) fell -3.9% on lackluster growth, just as Noah Education Holdings Ltd. (NYSE:NED) did. China Infrastructure Investment Corp (NASDAQA:CIIC) is nearing to complete a V-shaped tumble thanks to a -9.4% fall today.

 

top_2010429_etf_noon

Shares of Baidu.com (NASDAQ:BIDU) jumped +$84.34 or +13.6% by noon following strong earnings and even better outlook. The company said it expect second quarter revenues to reach $268.1 million vs. $239 million consensus estimate. Baidu.com (NASDAQ:BIDU) announced a 1:10 stock split effective May 12, suggesting more retail investors will be able to snap up shares of China's search engine giant. Strong money flows will carry the stock higher, but valuation may be in focus as the buzz subsides. Baidu: is the $90 jump out of sync?

Energy stocks advanced as the price of oil rose +2.36% by noon. Shares of Yanzhou Coal (NYSE:YZC) advanced +9.0% by noon thanks to a strong 2010 Q1 financial report. Yanzhou Coal 2010 Q1 profit doubles.

China's third oil producer, CNOOC Ltd. (NYSE:CEO) reported excellent 2010 first quarter results today. The company produced 31.9% more oil than a year ago, while oil prices jumped +81.4% to $75.37/barrel compared to 2009 Q1. CNOOC Ltd. 2010 Q1 oil production up 39.1%.

China Sunergy (NASDAQ:CSUN) jumped +8.5% - but its strength is not stock specific. Shares of Trina Solar (NYSE:TSL) advanced +6.3% while Suntech Power (NYSE:STP) rose +3.75%. Strong oil prices, lower dollar make a difference - as Greece's diminishing problems help the euro. For more about the correlation between the dollar and solar stocks, read Solar stocks and the dollar.

China Telecom (NYSE:CHA) fell -3.9% while China Unicom (NYSE:CHU) shed half that after both companies reported 2010 first quarter numbers. China Telecom (NYSE:CHA) revenues grew a mere 3.6% while net income for China Unicom (NYS:ECHU) fell -68% on 3G related marketing costs.

Education stocks took a toll in the U.S. - and China is following suit. Noah Education Holdings Ltd. (NYSE:NED) is trading -3.9% lower while ChinaCast Education Corp. (NASDAQ:CAST) lost -2.1% by noon on Thursday.

top_2010429_chart_noon



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!