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 27, 2010

E-mail Print PDF

decline1 October 27, 2010 (Chinavestor) – To say Wednesday offered up an unpleasant day of trading would either be accurate or an understatement as stocks in both China and the U.S. faltered, held hostage by concerns over the Federal Reserve's quantitative easing plan. Chinese stocks endured their worst day in weeks as the Hang Seng (SHA:000001) plunged almost 1.5% and the Hang Seng dropped nearly 1.5%. In the U.S., things could've been much worse as the Dow Jones Industrial was down well over 100 points in the morning, but was able to pare that loss to just 43 points.

Small cap movers included Sinovac Biotech (Nasdaq:SVA) and 3SBio (Nasdaq:SSRX) besides Acorn Interntaional (NYSE:ATV). Large caps on the upside included solar names like LDK Solar (NYSE:LDK) and Yingli Green Energy (NYSE:YGE). Trina Solar (NYSE:TSL) was just all right like  Baidu (Nasdaq:BIDU).

end_20101027_index

Predictably, it was a tough day for our trio of China-specific ETFs. The PowerShares Golden Dragon Halter USX China ETF (NYSE:PGJ) and the iShares/FTSE Xinhua China 25 Index (NYSE:FXI) both lost more than 2% while the Guggenheim China SmallCap ETF (NYSE:HAO) shed just under 2%.

It was a difficult day to find winners, among both the large- and small-caps, but finding the losers was a walk in the park. PetroChina (NYSE:PTR), China's largest oil company, reported what looked decent third-quarter results, but investors still took 4.25% out of the oil giant's hide. That helped push Sinopec (NYSE:SNP) down by 3.6% and Cnooc (NYSE:CEO) tumbled by 2.3%.

end_20101027_lc

In fact, the commodities/materials trade was imperiled in a big way today as Aluminum Corp. of China (NYSE:ACH) slipped by 3.7% and Yanzhou Coal (NYSE:YZC) plunged more than 4%. It was a very bloody day for the airlines as China Southern (NYSE:ZNH) plunged almost 8% and China Eastern (NYSE:CEA) lost more than 5%.

China Life Insurance (NYSE:LFC) was another marquee name to dot the losers lineup, falling almost 3% while Sohu.com (Nasdaq:SOHU) lost 1.7% on the day. Ctrip.com (Nasdaq:CTRP) lost 1.5% to round out the losers.

Solar names were surprise winners today, with LDK Solar (NYSE:LDK) pushing higher by almost 2%. Yingli Green Energy (NYSE:YGE) was the leader with a pop of 2.1% while Trina Solar (NYSE:TSL) gained half a percent. Baidu (Nasdaq:BIDU) did a whole lot of nothing today, but “nothing” was a gain of 0.22%. Changyou.com (Nasdaq:CYOU) added almost 1% to join the large-cap winners. E-House (NYSE:EJ) was another small winner with a pop of 0.4%.

end_20101027sc

As we mentioned earlier, it was not a good day to be a Chinese small-cap. Fuqi Interntaional (Nasaq:FUQI) was one of the few winners, gaining almost 2%. China Integrated Energy (Nasdaq:CBEH) added 1.4%. It was a bad day for large-cap oil names, but WSP Holdings (NYSE:WH) added almost 1.5%. The most impressive small-cap winner was China Nepstar Chain Drugstore (NYSE:NPD), which soared 6.5% on strong volume and no news.

Sinovac Biotech (Nasdaq:SVA) and 3SBio (Nasdaq:SSRX) built on Tuesday's gains as both added more than 1% today. Acorn Interntaional (NYSE:ATV) was another bigger winner, surging 6.6%.

Looking at the losers, AirMedia (Nasdaq:AMCN) stands out as that name was punished to the tune of almost 8% on the back of a weak earnings report. China Technology Development (Nasdaq:CTDC) added to Tuesday's losses with a drop of 2.7% today. UTStarcom (Nasdaq:UTSI) shed 2.4% while Actions Semiconductor (Nasdaq:ACTS) lost 2.8%. Zhongpin (Nasdaq:HOGS) slipped by 2.6%.

A familiar name for the losers column is back with a loss of 2%, that being Xinhua Sports & Entertainment (Nasdaq:XSEL). Winner Medical (Nasdaq:WWIN) continued to disappoint, giving up another 3% today while China Grentech (Nasdaq:GRRF) was slammed by 5.5%.



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!