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China stocks advance as bulls return to Wall Street

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end_2011815_lc_thumb August 15, 2011 (Chinavestor) Chinese stocks advanced on the back of a  resurgent Wall Street on Monday. Most large cap Chinese stocks ended the day in the black while the Dow Jones Industrial Average (INDEXDJX:.DJI) rose 213.88 points for the day. The index is up 762.96 points or 7.12% in the past three days making it the best such run since 2009.

PV manufacturers led large cap stocks higher on Monday. LDK Solar (NYSE:LDK) surged 10.63% followed closely by Yingli Green Energy (NYSE:YGE). Chinese solar companies are going to report later this week. E-House Holdings (NYSE:EJ) rose 10.59% ahead of earnings on Wednesday.

Baidu.com Inc. (NASDAQ:BIDU) gave up 3.67% in-line with the fall of Google Inc. (NASDAQ:GOOG). WuXi Pharmatech (NYSE:WX) and SMIC (NYSE:SMI) continued to deteriorate. Weak earnings continued to hurt AsiaInfo-Linkage (NASDAQ:ASIA) as well.

 

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Investors gave Chinese solar makers a chance to shine before earnings. LDK Solar (NYSE:LDK) was the best among larger Chinese stocks on Monday. Yingli Green Energy (NYSE:YGE) followed suit before releasing earnings on Friday.

China Housing & Land Development (NASDAQ:CHLN) fell the most among small cap China stocks after top and bottom line contracted, plus issued a bearish outlook. But that couldn't hold back E-House Holdings (NYSE:EJ), a stock that advanced  10.59%. The company is going to report on on Wednesday.  Xinyuan Real Estate (NYSE:XIN), another real estate China play, reported last week and sent the sector higher. Investors hope a similar report from EJ.

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But it wasn't a cakewalk for all Chinese stocks. Internet darling Baidu.com Inc. (NASDAQ:BIDU) broke a four day winning steak and fell 3.67%. Chcina's search engine company fell along with Google Inc. (NASDAQ:GOOG) after the U.S. giant sait it acqquired patents from Motorola Mobility.

WuXi Pharmatech (NYSE:WX) continued to slide and a resignation of a director from SMIC (NYSE:SMI) kept pressure on the stock.

Weak earnings hunted AsiaInfo-Linkage (NASDAQ:ASIA). The stock fell 2.07% on Monday and is off -30% for August.



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