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China stock market summary May 13, 2010

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money_4 May 13, 2010 (Chinavestor) Shares of Chinese companies traded in a narrow range on Thursday as investors were trying to figure out where the markets were heading. Chinese ETFs tracking small and large cap stocks barely moved; the iShares FTSE/Xinhua Index (NYSE:ETF) fell -0.5% while the Claymore AlphaShares Small Cap China ETF (NYSE:HAO) rose 0.2%.

Stocks at extremes included China Infrastructure Investment Corp. (NASDAQ:CIIC) to the upside and AsiaInfo Holdings (NASDAQ:ASIA) to the downside. Perfect World (NASDAQ:PWRD) popped 6% to catch up with the rest of the sector. China-Biotics Inc. (NASDAQ:CHBT), China Transinfo Technologies (NASDAQ:CTFO) had a strong showing as well.

Recent earnings moved Silvercorp Metals (NYSE:SMV), Ctrip.com Int. (NASDAQ:CTRP), Noah Education Holding (NYSE:NED), and Home Inns & Hotels Management (NASDAQ:HMIN). Additional earnings coverage at: China stock earnings calendar May 10-14, 2010.

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For the ten best and worst performing China ADR, look up the chart below.

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AsiaInfo Holdings (NASDAQ:ASIA) fell -11.32% on Thursday and just as importantly, fell with huge underlying volume. This negative money flow suggests the stock will remain under pressure at least for the short run.

Perfect World (NASDAQ:PWRD) has been creeping higher since the beginning of May, a time when the stock became oversold. Shanda Games (NASDAQ:SNDA) popped double digits on Monday, it was PWRD's turn on Thursday. Industry leader NetEase.com Inc. (NASDAQ:NTES) will report 2010 Q1 earnings on May 19 after the close, until then expect increase volatility within the online game sector.

Selected smaller cap China stocks jumped on Thursday. China-Biotics Inc. (NASDAQ:CHBT) and  China Transinfo Technologies (NASDAQ:CTFO) rose before earnings announcement. CTFO will host 2010 Q1 earnings call on May 14 at 8:00 A.M. CHBT will do the same day, time not supplied.

 



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