May 17, 2010 (Chinavestor) The Euro hit four year lows sending oil and commodity prices lower on Monday. Energy stocks felt the pinch, Chinese solar and coal companies declining the most by noon. Large cap Chinese stocks outperformed smaller counterparts: the iShares FTSE/Xinhua 25 Index (NYSE:FXI) lost -1.9% vs. a -2.8% tumble by the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO).
Advances of Chinese stocks are measured in pennies. Tiens Biotech Group (NYSE:TBV) advanced $.12 or 5.83% by noon - making it the best performing China ADR so far. Not a single China stock has advanced decisively.
Advances of small cap China stocks were no match for the large number of China ADRs that fell by noon today. Large cap stocks held their ground for the most part; the iShares FTSE/Xinhua 25 Index remained resilient thanks to index heavy weight China Mobile (NYSE:CHL). But resource player Aluminum Corp. of China (NYSE:ACH) fell -6% followed by a similar drop by Petrochina (NYSE:PTR).
Smaller cap Chinese stocks suffered even more. Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) lost almost twice as much as the FXI. Rino International (NASDAQ:RINO) tumbled -11.3% as earnings fell to $.30 vs. from $.50 a year ago. Rino back to square one after 2010 Q1.
Perfect World (NASDAQ:PWRD) tumbled -20.6% despite a strong 2010 first quarter: revenue guidance for the upcoming quarter suggests the gaming pipeline is getting outdated... Perfect World tumbles on growth concerns.
The relatively large number of Chinese solar plays on the worst performing China stock list is due to the fall in oil price. Trina Solar (NYSE:TSL) is going to report 2010 Q1 earnings soon. JA Solar (NASDAQ:JASO) reported 21010 Q1 last week - shipment, revenues and earnings all grew YoY and QoQ. China stock earnings calendar May 10-14. Canadian Solar (NASDAQ:CSIQ) lost over 40% of its stock price in a month and became oversold. Something momentum stock investors should pay attention to...
Shares of Yanzhou Coal (NYSE:YZC) fell -8% as the cola price in China is correlating with oil price very closely. YZC has been very erratic lately creating opportunity for the intelligent investor.