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Tech, financial stocks rock early Dec

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feel_good1 December 9, 2011 (Chinavestor) Looking at sector performance of Chinese stocks, technology, financial and basic materials did best in the first ten days of the month. Huaneng Power International (NYSE:HNP) pulled back after a blockbuster November, hurting utilities. Consumer stocks continue to lack momentum while transportation stocks trade in a narrow range.

Stocks that moved sectors included Baidu.com Inc. (NASDAQ:BIDU), NetEase.com Inc. (NASDAQ:NTES), Youku.com (NYSE:YOKU) and Qihoo 360 Technologies (NYSE:QIHU) from the tech sector. China Life Insurance (NYSE:LFC) is responsible for the advance of the financial sector. This stocks is the largest by far within the sector. Aluminum Crop. of China (NYSE:ACH) is not only the largest among basic materials but was the brightest in December so far, except for China Precision Steel (NASDAQ:CPSL).

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But December wasn't a cakewalk for consumer stocks lately. Synutra International (NASDAQ:SYUT) fell apart while Agria Corp. (NYSE:GRO) added more to the downside among consumer non-cyclicals. Consumer cyclical stocks were mixed with sector heavy weight China Zenix (NYSE:ZX) sinking the sector despite a sound performance from China Automotive Systems (NASDAQ:CAAS).



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