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China ADR Wrap July 19, 2010

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money_4 July 19, 2010 (Chinavestor) Chinese stocks opened mixed in Asia on Monday, raising in Shanghai but falling apart in Hong Kong. The rally was universal in Shanghai, stocks that advanced outnumbered those that fell ten to one. The DJIA gained strength as optimism spread ahead of bellwether chipmakers reporting earnings in the upcoming days. The DJIA advanced 56.53 points by the end of the day, helping lift Chinese ADRs alongside.

Energy stocks led large caps higher; CNOOC Ltd. (NYSE:CEO) and Trina Solar (NYSE:TSL) took the lead in the sector. NetEase.com (NASDAQ:NTES) outperformed the sector but Changyou.com (NASDAQ:CYOU) and Perfect World (NASDAQ:PWRD) fell.

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Chinese energy stocks outperformed the rest of the market. CNOOC Ltd. (NYSE:CEO), a pure Chinese oil producer, advanced $4.28 or 2.75%, the most in dollar terms among Chinese ADRs. Trina Solar (NYSE:TSL), one of the largest Chinese solar maker, advanced above $23 a share, a three months high.

Yanzhou Coal (NYSE:YZC), the third largest Chinese coal miner, rose 3.40% followed by another solar play, JA Solar (NASDAQ:JASO).

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Resource players and precious metal stocks continued to trade lower. Zijin Mining (SHA:601899), China's largest gold miner, was the only component of the SSE-50 Index that fell on Monday. Silvercorp Metals (NYSE:SVM) fell 4.77%, the most among Chinese stocks with market cap of over $500 million.

Changyou.com (NASDAQ:CYOU) and Perfect Wold (NASDAQ:PWRD), two prominent online game companies, fell while NetEase.com (NASDAQ:NTES) and Shanda Games (NASDAQ:GAME) stayed above the water.



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