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Sector rotation hurts technology favors healthcare

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rotation September 26, 2011 (Chinavestor) Investors got shell-shocked to see prominent Chinese internet stocks go bust at the end of the month. Baidu.com Inc. (NASDAQ:BIDU), the most liquid Chinese internet stock, went from a $150/share company to a $117/share in less than two weeks. The rest of the sector followed suit making investors wonder if this was a burst of a bubble or what. But there are two other sectors that got hit even harder than technology for the month of September: transportation and basic materials. Aluminum Corp. of China (NYSE:ACH) lost over 30% since September 2 while Chinese airliners sank the transportation sector.

The good news is that despite turbulent market conditions, health care stocks advanced 5.9% on average for September, thanks to stocks like Mindray Medical (NYSE:MR) or Simcere Pharmatech (NYSE:SCR). Consumer Cyclicals held on relatively well thanks to Deer Consumer Products (NASDAQ:DEER) and China Automotive Systems (NASDAQ:CAAS). Energy outperformed the broad market as China Petroleum & Chemical Corp. (NASDAQ:SNP) offset small decline of Petrochina Co. Ltd. (NYSE:PTR).

Chinese telecoms dominated the Services sector with China Mobile (NYSE:CHL) in the red but China Unicom (NYSE:CHU) and China Telecom (NYSE:CHA) made it to the black in September.

 

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Huaneng Power (NYSE:HNP) killed Utilities with a 11.5% dive for the month but Harbin Electric (NASDAQ:HRBN) helped to mitigate that.

Consumer Non-Cyclicals were in-line with the market led by

Agria Corporation (NYSE:GRO), Synutra International (NASDAQ:SYUT) and Zhongpin Inc. (NASDAQ:HOGS).

China Life Insurance (NYSE:LFC) dominated Financials while the paying field was level for Capital Goods stocks.  

Technology is the most populous among Chinese sectors with 43 stocks in this category alone. Baidu.com Inc. (NASDAQ:BIDU) is the largest on the sector with a 12.9% decline for September. But it didn't help that Youku.com Inc. (NYSE:YOKU), Qihoo 360 Technology (NYSE:QIHU), Sohu.com Inc. (NASDAQ:SOHU), NetEase.com (NASDAQ:NTES), and Sina Corporation (NASDAQ:SINA), the largest stocks of the sectror, were all in the red for the month.

Aluminum Corp. of China (NYSE:ACH) along is reposnible for the steep delice but General Steel (NYSE:GSI) and Silvercorp Metals (NYSE:SVM) were just as bad.



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