Chinese solar stocks enjoy the ride on high oil and outlook on Monday. Shares of JA Solar Holdings (NASDAQ:JASO) advanced 7.5% by noon while Canadian Solar (NASADAQ:CSIQ) bounced back up +2.8%. Better-than-expected earnings from China Sunergy (NASDAQ:CSUN) lifted the outlook for the sector as shipments, revenues and profits rose for CSUN. CSUN 2010 Q1 back to profit.
China Transinfo Technologies (NASDAQ:CTFO) rose +6.1% by noon to fight the $7.50 level again. The company has made several attempts to break away from the $7 level in the past. Increasing volume suggests strong money flows are behind the stock and will be able to establish a price above the $7.50 level today.
Yanzhou Coal (NYSE:YZC) was overbought this morning and fell -6.28% in Hong Kong earlier the day. So today's weak performance on the NYSE comes as a no surprise. But if this correction passes, shares of the company will look attractive again, thanks to high energy prices and strong production growth. Yanzhou Coal 2010 Q1 profit more than doubles.
Excitement is over for China Infrastructure Development (NASDAQ:CIIC) - at least for now. The stock is under pressure from China's regulatory tightening of the construction sector. For more about underlying fundamentals, read Overview: China real estate market.
The oversold monitor picked up China Digital TV Holdings (NYSE:STV) in the morning, suggesting a turnaround is on the table. "Shares of China Digital TV Holding (NYSE:STV) fell four days in a row and the stock looks oversold at the moment." Oversold stock bounce back on Monday.
AsiaInfo Holdings (NASDAQ:ASIA) is schedule to report 2010 first quarter financials today. The stock has been defying the trend from Friday and rose +2.8% by noon on Monday. For more about earnings, read: China stock earnings calendar, May 3-7, 2010.
Tiens Biotech (NYSE:TBV) is similar to Yanzhou Coal (NYSE:YZC) from a technical point of view: both companies outperformed the market by a wide margin lasts Friday and fell hard the next market day.
Nam Tai Electronics (NYSE:NTE) reported deteriorating sales and swung back to a net loss of $1.1 million in the first quarter of 2010. Investors took note of it and sold it off. Shares of the company fell -4.7% by noon.