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Chinese sectors in the red but utilities

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decline_6 December 19, 2011 (Chinavestor) The month of December has been a difficult one for Chinese stocks so far. Every sector is in the red except for utilities, thanks to a late rally from Huaneng Power Int. (NYSE:HNP). Technology stocks were murdered with Baidu,.com Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA) on the forefront, but Spreadtrum Communications (NASDAQ:SPRD) and solar stocks got hammered in addition to larger sector heavy weights. China Real Estate Information (NASDAQ:CRIC) fell apart along with China Ming Yang Wind Power (NYSE:MY), China Technology Development Group (NASDAQ:CTDC) and Wuhan General Group (NASDAQ:WUHN).

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Given that Harbin Electric withdraw from the NASDAQ, it's only Huaneng Power International (NYSE:HNP) that drives the utilities sector these days. The stock had a fantastic last week, pushing it back to the black for the month. But this was exception, each and every sector fell for the month so far.

Capital goods sector was punished by China Real Estate Information (NASDAQ:CRIC) the most. This stock along with China Yuchai Int. (NYSE:CYD) make up well over half the sector in market cap. But weakness was not limited to larger players in the field, smaller China Ming Yang Wind Power (NYSE:MY), China Technology Development Group (NASDAQ:CTDC) and Wuhan General Group (NASDAQ:WUHN) fell -28.6%, -24.8% and -24.2% for the month...

Technology stocks fell hard in December as investors shunned high beta stocks. Baidu.com Inc. (NASDAQ:BIDU) is back in the $110 range while Sina Corp. (NASDAQ:SINA) fell under $50 for the first time in over a year! There is nothing wrong with the sector fundamentally, except that high return comes with higher risk. When markets head south, stocks like Baidu.com (NASDAQ:BIDU) are hurting. But there is a lot of upside potential in both based on fundamentals....

Health care, financial and basic materials fell with the market and are under pressure as the euro crisis drags along.



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