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.
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.
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.