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China ADRs pare losses by noon

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advance4 May 5, 2010 (Chinavestor) Shares of Chinese companies bounced back up after a low open on Wednesday buoyed by a strong advance of the Euro and firmer commodity and energy prices. Most ETFs tracking small and large cap China stocks were back in the black by noon.

noon_201055_etf

Oversold China stocks led the comeback: Qiao Xing Universal Telephone Inc. (NASDAQ:XING), Shanda Games (NASDAQA:GAME), Sutor Technology (NASDAQ:SUTR) and E-House Holdings (NYSE:EJ) all suffered heavily yesterday and most of the previous five days as well. Pick a value stocks says the oversold China monitor.

Chinese real estate stock China Infrastructure Inv. (NASDAQ:CIIC) continues to suffer- but is is not technically oversold! China Automotive Systems (NASDAQ:CAAS) made a comeback from over -10% dive early morning, yet is down sharply ahead of earnings after the close. CAAS tumbles before 2010 Q1 earnings. UTStartcom (NASDAQ:UTSI) reported 2010 first quarter earnings a day before that didn't impress investors. The stocks lost -5.1% by noon on Wednesday. UTStarcom 2010 first quarter: foughetaboutit.

noon_201055_chart



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