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China ADR Wrap June 28, 2010

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coal_2 June 28, 2010 (Chinavestor) The DJIA closed Monday at a moderate loss with no direction and light trade. Chinese shares were mixed in Asia earlier today with Hong Kong registering a small advance while Shanghai fell.

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Chinese ADRs traded sideways with large cap proxy iShares FTSE/Xinhua 25 China Index (NYSE:FXI) shedding 0.5 percent. Small cap proxy Claymore/AlphaShares China Small Cap ETF (NYSE:HAO) felt the pinch more by falling 0.7 percent.

 

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Gushan Environmental Energy (NYSE:GU), a small cap Chinese bio-diesel producer, advanced a staggering 34 percent, but most if the gains were part of a technical rebound to make it back to the dollar range. Shares of the company finished at $1.06. Gushan Energy bounces back.

Agria Corp. (NYSE:GRO) and Sinovac (NASDAQ:SVA) fell double digits on Monday, highlighting the fact that small cap Chinese stocks are more vulnerable when the market lacks direction.

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Among large cap names, Huaneng Power (NYSE:HNP) rose the most after advancing $1.05 or 4.58% to $24.00. Part of the surge is the Chinese government directive asking coal producers not to raise coal prices. Hong Kong listed Datang Power (HKG:0991) and Huadian Power (HKG:1071) advanced 1.84 percent and 2.66 percent earlier today, respectively.

What turned to be a blessing was a curse for coal producer Yanzhou Coal (NYSE:YZC). Shares of the company fell $1.31 or 6.04 percent. Part of the story is Yanzhou's decision to retire 10 percent of its capital. YZC to retire up to 10% of registered capital.

For a list of the best and worst performing Chinese ADRs with market cap of above 500 million, see chart below.

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