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China tech and utilities piggyback the Dow

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piggyback May 10, 2013 (Chinavestor) Now that the S&P and the Dow are trading at record highs, many investors are interested in what Chinese ADRs did best in the last two weeks. The answer is technology and utility stocks followed by consumer cyclical, basic material, and financials. Going stock specific, Baidu.com (NASDAQ:BIDU), Sina Corp. (NASDAQ:SINA), Sohu (NASDAQ:SOHU) and Qihoo 360 Tech (NYSE:QIHU) lifted the market cap weighted tech sector index the most. Huaneng Power (NYSE:HNP) remains on fire - as our money flow charts have suggested in the past.

China Automotive Systems (NASDAQ:CAAS) is solely responsible for the resurgence of consumer cyclical sector.

The same is true for Aluminum Corp. of China (NYSE:ACHC), the best performing sotck of the sector by far.

In a similar fashion, large cap China Life Insurance (NYSE:LFC) is behind the sound performance of the financial sector.

 

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