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China ADR Wrap August 16

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bear_bull August 16, 2010 (Chinavestor) While U.S. investors are looking for direction, evidenced by the virtually unchanged DJIA, China stock investors had a reason to cheer on Monday. Not only did Chinese A-shares jump in Shanghai and H-shares advance in Hong Kong, U.S. listed Chinese stocks rose as well.

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Chinese large cap stock outperformed smaller counterparts; the iShares FTSE/Xinhua 25 China ETF (NYSE:FXI), measuring the performance of the 25 largest Hong Kong listed Chinese stock, rose 1.1 percent followed by a 0.5 percent advance in the Claymore/AlphaShares China Small Cap ETF (NYSE:HAO). American companies conducting business in China did well, too: the PowerShares Gld Drg Haltr USX China(ETF) rose 0.84 percent for the day.

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Synutra International (NASDAQ:SYUT), the largest U.S. listed Chinese infant formula maker, bounced back 16.0 percent on Monday, after allegations that tainted milk was behind child disorders, ceased. Energy stocks did well on Monday: LDK Solar (NYSE:LDK) and Trina Solar (NYSE:TSL) advanced 3.0 percent and 2.3 percent, respectively,  while CNOOC ltd. (NYSE:CEO), China's offshore oil specialist, rose 1.84 percent. Small cap Advanced Battery (NASDAQ:ABAT) jumped 7.10 percent, the most among small cap China stocks.

Rino International (NASDAQ:RINO) rose 3.84 percent following second quarter earnings, but China Transinfo Technologies (NASDAQ:CTFO) fell 5.28 percent falling short of estimates. HQ Sustainable Maritime (AMEX:HQS) continued to tumble, the stock is off 30 percent since last Monday.

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While smaller caps remained vulnerable, most large cap China stocks fared better. iShares FTSE/Xinhua 25 China ETF (NYSE:FXI) advanced 1.1 percent thanks to index heavy weight China Mobile (NYSE:CHL). Petrochina (NYSE:PTR), the largest Chinese oil producer, advanced 0.82 percent.

China Eastern Airline (NYSE:CEA) fell 3.92 percent, almost as much as her H-shares in Hong Kong, earlier the day.

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It proced again that seasoned investors should pay attentiion to Hong Kong traing. We wrote at the end of today's pre-market report that "If Hong Kong can serve as a proxy for U.S. listed Chinese stock, expect China Eastern Airlines (NYSE:CEA) to fall hard and have an impact on China Southern Airlines (NYSE:ZNH) as well. But outlook is bright for Aluminium Corp. of China (NYSE:ACH), China Life Insurance (NYSE:LFC) and China Mobile (NYSE:CHL) before the bell on Monday. "

China Eastern Airlines (NYSE:CEA) fell 3.92 percent while China Southern Airlines (NYSE:ZNH) shed 1.06 percent. But Aluminum Corp. of China (NYSE:ACH), China Life Insurance (NYSE:LFC) and China Mobile (NYSE:CHL) advanced 1. 92 percent, 1.53 percent and 2.64 percent, respectively.

 



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