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 October 12, 2010

E-mail Print PDF

bubble_1 October 12, 2010 (Chinavestor) – On a day of important economic news in both China and the U.S., the end results were decent. News of more lending curbs hit the Hang Seng, but wasn't enough to derail the Shanghai Composite (SHA:000001), which jumped more than 1% and is now in bull market territory. U.S. stocks waited around for the release of minutes from the Federal Open Market Committee and all three major U.S. indexes posted scant gains on the day.

end_20101012index

We've certainly seen better days for our trio of China-specific ETFs as all three booked modest losses on the day, but there really isn't much to worry about with the group. The Guggenheim China Small Cap ETF (NYSE:HAO) is still sitting just pennies off a 52-week high.

Looking at the large-caps, it was a day of contradictions for energy stocks with Sinopec Shanghai Petrochemical (NYSE:SHI) jumping almost 7% and Sinopec (NYSE:SNP) adding 1.6%. On the other hand, Yanzhou Coal (NYSE:YZC) slid by 1.7% and Cnooc (NYSE:CEO) gave up 2.2%.

end_20101012_lc

Solar stocks were nothing to brag about either. Suntech Power (NYSE:STP) was the biggest loser, slipping by 4.5%. Yingli Green Energy followed with a loss of 3.5% and LDK Solar (NYSE:LDK) settled down by 1.2%.

Back to the winners with Perfect World (Nasdaq:PWRD), which popped by 4.3%. After that, only CNinsure (Nasdaq:CISG) and Guangshen Railway (NYSE:GSH) gained more than 2%. Giant Interactive (NYSE:GA) and VanceInfo Technologies (NYSE:VIT) both added about 1.7%. Ctrip.com (Nasdaq:CTRP), China Eastern Airlines (NYSE:CEA) and Shanda Interactive (Nasdaq:SNDA) all gained more than 1% to round out the winners.

After the names we already noted, the large-cap losers weren't too bad. E-House (NYSE:EJ) and New Oriental Education (NYSE:EDU) both lost about 1.6%. Focus Media (Nasdaq:FMCN) dropped 1.3% while China Unicom (NYSE:CHU) and WuXi PharmaTech (NYSE:WX) each lost 1.1% to cap the losers.

Looking at the small-caps, we find only three exceptional moves, two winners and one loser. China Technology Development (Nasdaq:CTDC) surged almost 38% on volume that was better than 20 times the daily average on no news. Xinhua Sports & Entertainment (Nasdaq:XSEL) followed with a pop of 19% and those were the only double-digit winners among Chinese small-caps.

end_20101012_sc

KongZhong (Nasdaq:KONG) jumped almost 7.6% while China Information Technology (Nasdaq:CNIT) added 6.9%. 3SBio (Nasdaq:SSRX) and China Architectural Engineering (Nasdaq:CAEI) both gained more than 4.9% on the day. Acorn International (NYSE:ATV), Wonder Auto Technology (Nasdaq:WATG) and Shengdatech (Nasdaq:SDTH) all jumped more than 3%. ATA Inc. (Nasdaq:ATAI) gained almost 2.3% to complete the list of small-cap winners.

Tongxin International (Nasdaq:TXIC) plunged almost 23% on volume that was about 17 times the daily average on news that stock will be delisted from the Nasdaq. The company failed to submit a 20-F due to ongoing audit. Agria (NYSE:GRO) and General Steel (NYSE:GSH) were the next-worst losers as both shed more than 4%. China Infrastructure Investment lost 3.4% and UTStarcom (Nasdaq:UTSI) gave up 3.6%.

GigaMedia (Nasdaq:GIGM) slipped by almost 3% while Noah Education (NYSE:NED) lost 2.75%. American Oriental Bioengineering (NYSE:AOB) and eLong (Nasdaq:LONG) both slipped by 2.5%. China Finance Online (Nasdaq:JRJC) is the final loser, giving up almost 2.2% on the day.



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!