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China ADR Wrap June 8, 2010

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risk_1 June 8, 2010 (Chinavestor) Late afternoon rally ignited Chinese ADRs on Tuesday. The DJIA (INDEXDJX:.DJI) rose 125.3 points or 1.3 % for the day outperforming the Hang Se4ng Index (INDEXHANGSENG:.HSI) and the Shanghai Composite Index (SHA:000001). Value investors snapped up financial and energy stocks but shunned the technology sector- Microsoft (NASDAQ:MSFT), Intel Corp. (NASDAQ:INTC) and IBM (NYSE:IBM) all closed in the red for the day.

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Chinese stocks rallied on the back of improving market sentiment. Large cap stocks outperformed smaller counterparts as their respective ETFs testify. The iShares FTSE/Xinhua 25 Index (ETF) (NYSE:FXI) rose 2.2% while the small cap proxy Claymore/AlphaShares China Small cap ETF (NYSE:HAO) advanced 1.9%.

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Among large cap Chinese ADRs, companies over $500 million market cap in this case, Vanceinfo Technologies (NYSE:VIT) jump the most on Tuesday, followed by China Southern Airlines (NYSE:ZNH) and CNOOC ltd. (NYSE:CEO).

Vanceinfo Technologies (NYSE:VIT) experienced a strong bounce back following two days of sharp losses. Shares of the company fell 10% in the last two trading sessions.

China Southern Airlines (NYSE:ZNH), the largest Chinese carrier by fleet size, benefited from exuberance surrounding the industry as its leaders gather in Berlin discussing the future of the industry. Shares of China Eastern Airlines (NYSE:CEA) rose 0.56%.

CNOOC Ltd. (NYSE:CEO), China's offshore oil specialist, advanced 3.43% along with the increasing price of the crude. Shares of Petrochina (NYSE:PTR), the largest oil producer in China, advanced  2.75% for the day.

Oversold Aluminum Corp. of China (NYSE:ACH), the third largest aluminum maker of the world, advanced 3.28% after falling 10% late last week. Shares of the company became oversold as our analysis have revealed.

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WuXi Pharmatech (NYSE:WX) tumbled 6.5% after Jana Partners LLC disclosed that they have doubts about Charles Rivers' decision to pursue the merger with WuXi Pharmatech (NYSE:WX). Jana decided to invest in CRL instead. Related article on Street.com.

JA Solar (NASDAQ:JASO) continued to tumble but that might come to an end, according to the oversold monitor. JA Solar (NASDAQ:JASO) was the most oversold China ADR this morning, suggesting a turnaround is imminent after today's fall.

Perfect World (NASDAQ:PWRD), a Chinese online game developer and operator, fell 2.8% - just to catch up with the rest of the sector. Industry leaders Shanda Interactive (NASDAQ:SNDA) and NetEase.com Inc. (NASDAQ:NTES) failed to impress investors with their 2010 Q1 financial reports, putting pressure on the sector.

Looking at small cap Chinese ADRs, A-Power Energy Generation Systems (NASDAQ:APWR) jumped the most on Tuesday. The 5.09% advance today is more of a technical rebound following a 15% tumble in the past three business days.

Shares of General Steel Holdings (NYSE:GSI) remained explosive, jumping 4.6% for the day. Other high risk/high return stocks with strong gains include Rino Int. (NASDAQ:RINO), China TransInfo Technology Corp (NASDAQ:CTFO) and China Information Security Tech, Inc. (NASDAQ:CPBY).

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But Chinese real estate and related stocks remained under pressure. Latest land auction in Hong Kong suggests the real estate market is not showing signs of cooling down despite various efforts. The Government of Hong Kong sold a land for residential development for a record $1.3 billion just this week.

E-House Holdings (NYSE:EJ) fell hard on Monday and now China Housing & Land Development, Inc. (NASDAQ:CHLN) fell 6.36% on Tuesday. The stock accumulated losses of over 30% just in the last five trading days! Xinyuan Real Estate Co., Ltd. (NYSE:XIN) tumbled 4.76% for the day.

Winner Medical Group (NASDAQ:WWIN) shed 5.75% - this is a reflection of lack of investors rather than fundamental news. I had a chance to meet its CEO last month in New York and was impressed by him. I think the firm will do better than this in the short and mid term....

Fushi Copperweld (NASDAQ:FSIN), WSP Holdings (NYSE:WH) continue to suffer following disappointing 2010 Q1 financials.



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