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China ADR Wrap June 15, 2010

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advance7 June 15, 2010 (Chinavestor) – The bulls were back in force today as the Dow Jones Industrial Average (INDEXDJX:.DJI) gained 2.1% with all 30 of the index's constituents moving higher on the day and the S&P 500 finally moved above the all-important 200-day moving average. That fueled some bullish trade in Chinese ADRs and ETFs with the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) gaining 2.7%. Not to be outdone was the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO), which soared 2.5%. Chinese large-caps enjoyed the rally as well with the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) adding 2.3%.

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A 2.4% jump in crude oil to $76.94 a barrel, which took crude above a pivotal resistance point, fueled a rally in solar stocks with JA Solar Holdings (Nasdaq:JASO) gaining more than 9% and Trina Solar (NYSE:TSL) gaining 6.3%. LDK Solar (NYSE:LDK) tacked on 5.7% and Yingli Green Energy (NYSE:YGE) added almost 5.4%. Of course, the rally in oil benefited pure-play oil names with Cnooc (NYSE:CEO), China's largest offshore driller, adding $10.07, or 6%, to settle at $176.07.

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Chinese tech names were also home to some strength on Tuesday as AsiaInfo Holdings (Nasdaq:ASIA) added 6% and Ctrip.com (Nasdaq:CTRP) surged almost 8%, traversing its April high of $42.30. Telecom names were also worth trading City Telecom (Nasdaq:CTEL) gaining 5% and China Telecom (NYSE:CHA) nearly adding almost the same amount.

Large-cap losers were hard to come by. Syntura International (Nasdaq:SYUT) was overbought heading into the day and declined by more than 1%. Shanda Interactive Entertainment (Nasdaq:SNDA) continues to struggle to find momentum and retreated by almost 1% on the day.

As we noted earlier, small-caps were strong and that strength was almost as evident with the losers as it was the winners. The biggest small-cap loser on the day was China Architectural Engineering (Nasdaq:CAEI) was down less than 4% and ChinaCast Education (Nasdaq:CAST) lost a mere 3.7%. Other losers included a host of usual suspects, including ATA Inc. (Nasdaq:ATAI), which lost almost 3%, Tiens Biotech (AMEX:TBV), which slid 2.22%, and WSP Holdings (NYSE:WH). WSP didn't participate in the oil rally, sliding half a percent on the day.

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RINO International (Nasdaq:RINO) got a big boost, surging more than 10%. China Housing and Land Development (Nasdaq:CHLN) shrugged off some less-than-encouraging news for the real estate sector, gaining 9.7% on the day. China Green Agriculture (NYSE:CGA) added 8.33% on volume that was about 75% above the daily average after reaffirming 2010 guidance. China Infrastructure Investment (Nasdaq:CIIC) added 8% on no news and lethargic volume.

A-Power Energy Generation Systems (Nasdaq:APWR) gained 8% on volume that was nearly 50% higher than the daily average. China Sunergy (Nasdaq:CSUN) participated in the solar rally, adding 6.44% on strong volume.



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