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CHL, SOHU decline, safe stocks advance

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bull_bear3 March 21, 2014 (Chinavestor) Chinese energy stocks rose the most on Friday but China Mobile (NYSE:CHL) and Sohu.com Inc. (NASDAQ:SOHU) continued to slide. CNOOC LTd. (NYSE:CEO), Petrochina Co. Ltd. (NYSE:PTR) and Sinopec (NYSE:SNP) advanced the most among major Chinese listings on the NYSE. Besides China's oil triumvirate, Hunaneng Power Intl. (NYSE:HNP) managed to rose more than $2 on Friday. All other stocks followed these leaders from a distance.

When it comes to weak stocks, China Mobile (NYSE:CHL) remained the most vulnerable major listing on Friday. China's largest mobile operator fell $1.36 on Friday despite reaching an extreme oversold position earlier the week. China Mobile (NYSE:CHL) fell hard following news that it suffered its first annual profit decrease in over 14 years. CHL is off 7.4% for the week.

Sohu.com Inc. (NASDAQ:SOHU) fell $1.20, the other major China listing with a decline over a dollar. China's fourth largest internet portal is under pressure as uncertainty increases. Baidu Inc. (NASDAQ:BIDU), the internet industry leader, found some support on Friday but is off 18% since March 9, 2014.

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Chinese solar makers continue to suffer. Trina Solar (NYSE:TSL) fell $.90 or 5.45% on Friday. The oversold indicator picked up technical weakness of Canadian Solar (NASDAQ:CSIQ) and Yingli Green Energy (NYSE:YGE) earlier the week.



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