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Utilities shine but capital goods sink

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bull_bear_4 November 11, 2011 (Chinavestor) Consumer durable stocks, China Zenix Auto (NYSE:ZX) and Deer Consumer Products (NASDAQ:DEER), continued to strengthen in the second week of November. Chinese utilities shined, thanks to Huaneng Power International (NYSE:HNP). But capital goods, China Real Estate Information (NASDAQ:CRIC), China Yuchai Int. Ltd. (NYSE:CYD) and China Ming Yang Wind Power (NYSE:MY) continued to fall for the second week along with transportation and technology stocks. China Eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH) fell close to 4.5%, each. Baidu.com Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA) along with NetEase.com Inc. (NASDAQ:NTES) were responsible for weakness in the technical arena.

 

sector_Nov_wk2_2011_2

Consumer cyclical stocks are back in sector rotation for the sector was one of the biggest loser in October. While advances of China Zenix Auto (NYSE:ZX) and Deer Consumer Products (NASDAQ:DEER) are impressive in percentage terms, lack of trading volume makes investors nervous about outlook.

Huaneng Power Int. (NYSE:HNP), China's largest independent power producer, has been strong all week after a Deutsche Bank upgrade to Buy. Chinavestor indicators show strong money flows into the sector, suggesting advances are here to stay.

Investors don't favor China Real Estate Information (NASDAQ:CRIC), China Yuchai Int. Ltd. (NYSE:CYD) and China Ming Yang Wind Power (NYSE:MY). These are the largest contributors to sector performance to the dismay of investors.

Sina Corp. (NASDAQ:SINA) reported a mixed bag earlier the week and 514job Inc. (NASDAQ:JOBS) rocked the boat, yet both stocks failed to gain traction at best. NetEase.com Inc. (NASDAQ:NTES) fell hard and weakness of sector heavy weight Baidu.com Inc. (NASDAQ:BIDU) bodes ill for the technology sector as well.

This is what the same sectors did last week.

sec_perf_nov_wk1_2011



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