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.
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.