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PTR, LFC keeps climbing

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question_2 November 19, 2013 (Chinavestor) Tuesday is a prime example when Chinese stocks do something American ones don't. They just keep climbing higher even when they are extremely overbought. Petrochina (NYSE:PTR) and China Life Insurance (NYSE:LFC) are among the two most overbought Chinese stocks from yesterday yet they continue to advance on Tuesday. Demand in China is enormous for large, state owned/controlled companies that are considered safe bet when markets remain volatile. Remember, Shanghai and to a lesser extent Hong Kong are true home markets for Sinopec and Petrochina. Their NYSE listing typically follows price changes in Asia. Given this circumstance, more upside is possible for both...

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There is a list of Chinese stocks that are on the slide Tuesday. Overbought home Inns & Home Management (NASDAQ:HMIN) has no Chinese listing and the home market is the U.S. No wonder it pulled back today.

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