Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

China ADR Wrap June 7, 2010

E-mail Print PDF

decline1 June 7, 2010 (Chinavestor) As the sell-off accelerated in the final hour of trading, so did Chinese ADRs loose ground. Small caps took the brunt of the beating; the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) tumbled 2.2% while the iShares FTSE/Xinhua 25 Index ETF (NYSE:FXI), a proxy for large cap Chinese companies, fell half of that. Most of the support came from two stocks though: index heavy weight China Mobile (NYSE:CHL) and China Eastern Airlines (NYSE:CEA) ended the day higher salvaging large cap heavy indices.

end_201067_etf

The markets were less forgiving. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 2.1% and the Shanghai Composite Index (SHA:000001) sank 1.7% earlier the day. The markets have found no evidence that Europe's problems are easing and the stronger dollar pushed commodity and energy stocks lower for the day.

end_201067_index

China Mobile (NYSE:CHL) (HKG:0941), the largest mobile carrier in the world, advanced in Hong Kong and in New York as investors found solace in value stocks. China Eastern Airlines (NYSE:CEA) rose as price of kerosene continued to shed. The Shanghai Expo is attracting a large number of visitors, a city where CEA is operating her major hub.

Petrochina Co. Ltd. (NYSE:PTR), the largest Chinese oil producer, fell $2.42 while CNOOC Ltd. (NYSE:CEO), China's offshore oil specialist, shed $1.29.

Baidu.com (NASDAQ:BIDU), the largest NASDAQ listed China play with a market capitalization of over $20 billion, fell $3.39.

Widely traded and liquid NASDAQ stocks fell along the market; Sohu.com (NASDAQ:SOHU), AsiaInfo Holdings (NASDAQ:ASIA), and Sina Corp. (NASDAQ:SINA) tumbled as the sell-off accelerated.

China Biotics (NASDAQ:CHBT) advanced 2.1% ahead of earnings later this week. China stock earnings calendar, June 7-11.

end_201067_dollar

 



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!