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China ADR Wrap July 14, 2010

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telescope1 July 14, 2010 (Chinavestor) – While U.S. stocks took a bit of a breather today, Chinese stocks did realize some decent gains with the Hang Seng Index (Indexhangseng:.hsi) advancing 0.6% and the Shanghai Composite Index (SHA:000001) jumping 0.8%. Weakness in U.S. equities pushed the major China-specific ETFs that we track lower on the day. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ), the iShares/FTSE China 25 Index (NYSE:FXI) and the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) all traded lower on the day, but all by less than 1%.

 

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Looking at large-caps, the solar sector was once again home to some bullish trade, led by Trina Solar (NYSE:TSL), which gained almost 5%. JA Solar (Nasdaq:JASO) continued its bullish ways, adding 3.4% and Suntech Power (NYSE:STP) jumped 4%. LDK Solar (NYSE:LDK) didn't participate as that name was down 3.4%.

For the first time in quite a while we saw broad-based strength in the online gaming sector. Changyou.com (Nasdaq:CYOU) popped more than 5% while Perfect World (Nasdaq:PWRD) and Shanda Games (Nasdaq:GAME) both added almost 2%. Netease.com (Nasdaq:NTES) lagged with a loss of almost 3%.

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Commodities names were a patch to avoid today as Yanzhou Coal (NYSE:YZC) and Aluminum Corp. of China (NYSE:ACH) both lost more than 2%. Cnooc (NYSE:CEO), China's largest offshore driller, shed more than 3%. Despite yesterday's gains on the back of some positive passenger data, China Eastern Air (NYSE:CEA) and rival China Southern (NYSE:ZNH) both lost about 3% today. City Telecom (Nasdaq:CTEL) was the biggest loser on the day, dropping almost 8% on no news, but volume was well above the daily average.

Among small-caps, jewelry retailer Fuqi International (Nasdaq:FUQI) surged almost 18% on volume that was about 2.5 times the daily average though headlines in the name were hard to come by. China Green Agriculture (NYSE:CGA) added more than 6% on strong volume. ShengdaTech (NYSE:SDTH) got a boost of 5.6% on some positive comments from the company about its asphalt program. RINO International (Nasdaq:RINO), a name that we mention quite a bit, gained more than 3% on the day on decent volume, but no news.

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General Steel (NYSE:GSI), Wonder Auto Technology (Nasdaq:WATG) and BMP Sunstone (Nasdaq:BJGP) all gained more than 3% today.

Once again, the losers were not as bad when compared against the strength we saw in small-cap winners. China Digital TV (NYSE:STV) lost 3.48%, but volume was weak. Qiao Xing Universal Resources (Nasdaq:XING) lost just over 3% on slack volume. China Precision Steel (Nasdaq:CPSL), KongZhong (Nasaq:KONG) and China TransInfo (Nasdaq:CTFO) all lost more than 2.6% but less than 3%.

Sinovac Biotech (Nasdaq:SVA) lost almost 2%, while China Natural Resources (Nasdaq:CHNR), Gushan Environmental (NYSE:GU), AirMedia Group (Nasdaq:AMCN) and American Oriental Bioengineering (NYSE:AOB) all lost more than 2% on the day.



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