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Energy, real estate stocks lead China ADRs higher

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advance5 June 9, 2010 (Chinavestor) Assurances from Ben Bernake that the economic recovery is on track helped U.S. investors turn bullish, at least for the short term. Price of oil rose +3.60% by noon on Wednesday, lifting energy stocks alongside. Oversold Chinese solar stocks shine; Trina Solar (NYSE:TSL) and Yingli Green Energy (NYSE:YGE) took the lead among larger cap Chinese ADRs. CNOOC Ltd. (NYSE:CEO) and Yanzhou Coal (NYSE:YZC) rose substantially as well. Home Inns & Hotels Management (NASDAQ:HMIN) bounced back up on Wednesday but it was real estate China Housing & Land Development, Inc (NASDAQ:CHLN) that advanced the most in percentage terms.  China Unicom (NYSE:CHU) and China Mobile (NYSE:CHL) continue to outperform the broad market as well.

 

China Unicom (NYSE:CHU) has been the best performing China telco on Wednesday so far with a 4.73% advance by noon. It came as a no surprise given the outstanding performance of its H-shares earlier the day. China Unicom (HKG:0762) advanced 2.3% in Hong Kong, the most among NYSE-HKEx cross listed blue chips. Loan growth, export report send China stocks to the moon.

Trina Solar (NYSE:TSL) is leading large cap China plays higher on Wednesday, according to the following chart. The company reported robust revenue and earnings growth and remained highly profitable. With over $600 million cash at hand, Trina Solar (NYSE:TSL) is well positioned to meet market challenges. Trina Solar 2010 Q1 beats estimates.

Yingli Green Energy (NYSE:YGE) is another China solar play with robust 2010 first quarter report in its back. Yingli back to profit, trading at discount.

The overbought indicator picked up the unusual sharp correction in the price of Home Inns & Hotels Management (NASDAQ:HMIN) this morning. We got it right by saying that "Home Inns & Hotels Management (NASDAQ:HMIN) hit a resistance level above $38 and fell substantially according to the overbought chart. But the stock may just have needed a short term correction and looks ready to resume the rally." China stock watch list for June 9.

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The oversold monitor picked up China Housing & Land Development, Inc. (NASDAQ:CHLN) this morning. We wrote that "China Housing & Land Development, Inc. (NASDAQ:CHLN) is poised to do well on Wednesday according to the oversold China stock monitor." China stock watch list for June 9. The 15.53% advance came as a little surprise to the upside, but the direction of the stock price was certainly not a shocker.

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Investors should pay attention to the bottom of the list as well. Tiens Biotech Group (USA), Inc (AMEX:TBV), Xinhua Sports & Entertainment Ltd (ADR) (NASDAQ:XSEL), WSP Holding (NYSE:WH) all reported disappointing 2010 first quarter earnings. Investors don't forget such news fast, leaving these stocks behind during the market turnround. Contrary to Home Inns & Hotels Management (NASDAQ:HMIN), Ctrip.com Int. (NASDAQ:CTRP), or Trina Solar (NYSE:TSL) - companies with positive earnings surprises for the last quarter - don't expect much improvement from these stocks for the short term.



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