Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

China ADR Wrap August 24, 2010

E-mail Print PDF

decline_6 August 24, 2010 (Chinavestor) – One might call Tuesday a Shanghai Surprise as the Shanghai Composite Index (SHA:000001) somehow managed to close in the green despite the fact that the Hang Seng Index (Indexhangseng:.hsi) tumbled more than 1% and U.S. stocks continue to be hampered by doubts about the economy. That's our way of saying the Dow Jones Industrial Average (INDEXDJX:.DJI) gave up another 1.3% today.

end_2010824_index

Weakness in the U.S. usually trickles over to China-specific ETFs and that's exactly what happened today with the PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) plunging 1.5% on the day. The iShares/FTSE Xinhua China 25 Index (NYSE:FXI) lost almost 1% and the Claymore/AlphaShares China Small-Cap ETF (NYSE:HAO) shed half a percent.

end_2010824_etf

Winners among large caps were not all that impressive today on a percentage basis. Trina Solar (NYSE:TSL) gained nearly 6%, but that was on the back of solid earnings news. That move did not help the rest of the sector as JA Solar (Nasdaq:JASO) lost almost 4%. LDK Solar (NYSE:LDK) and Yingli Green (NYSE:YGE) each tumbled more than 4% and Suntech Power (NYSE:STP) slid 5.44%.

end_2010824_lc

Focus Media (Nasdaq:FMCN) jumped 2.16% on some decent earnings news. Cninsure (Nasdaq:CISG) added nearly 2% on better than twice the average daily volume after reporting earnings yesterday. China Unicom (NYSE:CHU) gained more than 1% and China Yuchai International (NYSE:CYD) was up by almost 1% and Cnooc (NYSE:CEO) was the only other large-cap to finish the day in the green.

There were plenty of losers to pick from. Guangshen Railway (NYSE:GSH) slid more than 3% on weak volume and the same can be said for Semiconductor Manufacturing International (NYSE:SMI). VanceInfo (NYSE:VIT) slipped 3.5% on almost double the average daily turnover, but there was no news to explain the increased trade.

Home Inns & Hotels Management (Nasdaq:HMIN) fell by 4.3% on no news while Shanda Games (Nasdaq:GAME) lost almost 6%. Ctrip.com (Nasdaq:CTRP) was battered to the tune of 6.16% on better-than-average volume. That stock led the large cap losers.

end_2010824_sc

Yes, there were small-cap winners today. Most notably, China Architectural Engineering (Nasdaq:CAEI) surged almost 46% on incredible volume, but there was no news to explain the bullish trade. Acorn International (NYSE:ATV) jumped nearly 10%. AirMedia (Nasdaq:AMCN) gained almost 3.6% on strong volume and no news.

Zhongpin (Nasdaq:HOGS) added almost 3% while ATA (Nasdaq:ATAI) traded higher by nearly 2%. Yucheng Technology (Nasdaq:YTEC) popped by 1% while Jinpan (NYSE:JST), China Information Security Technology (Nasdaq:CPBY), Vimicro (Nasdaq:VIMC) and China Technology Development (Nasdaq:CTDC) all added more than 1% each.

Not surprisingly, losers were easy to identify. Noah Education (NYSE:NED) tumbled nearly 5% on volume that was nearly triple the daily average. China Medical Technologies (Nasdaq:CMED) also lost almost 5% on no news. Frankly, it wasn't a good day to be involved in the healthcare space as Sinovac Biotech (Nasdaq:SVA) lost 5.3% and Winner Medical Group (Nasdaq:WWIN) shed nearly 7%.

China Integrated Energy (Nasdaq:CBEH) and Wonder Auto Technology (Nasdaq:WATG) each slipped by about 5.5%. Agriculture names were weak with Origin Agritech (Nasdaq:SEED) and China Green Agriculture (NYSE:CGA) both slipping by more than 6%. Jewelry retailer Fuqi International (Nasdaq:FUQI) was not shiny today, tumbling by almost 7% to round out the small-cap losers.



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!