March 31, 2014 (Chinavestor) Market sentiment improved on Monday as the Dow added 140 plus points for the day. The S&P 500 followed suit while the NASDAQ advanced over 1% for the day. When it comes to Chinese stocks, the result is a mixed bag.
China's offshore oil driller, CNOOC Ltd. (NYSE:CEO) continued were it left off last week. Steep decline. CNOOC Ltd. (NYSE:CEO) fell the hardest last Friday and the stock played the same role on Monday. Crude oil, natural gas, and gasoline prices all continued to fall on Monday, hurting energy producers. Petrochina Co. Ltd. (NYSE:PTR) held on last Friday but fell the second most among major NYSE and NASDAQ listed Chinese stocks on Monday.
SouFun Holdings (NYSE:SFUN) and NetEase Inc. (NASDAQ:NTES), two of the best China plays last Friday, succumbed to profit taking. Both are among the ten worst China plays on Monday.
Baidu Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA) experienced a complete opposite dynamics. BIDU and SINA fell hard last Friday but are among the best ten China stocks on Monday.
Ctrip.com Inc. (NASDAQ:CTRP) is an exception. This Chinese online travel agent advanced for both days.
See following two charts displaying ten best and worst China stocks of these days.
China stocks on the move, March 31, 2014 - Monday.
China stocks on the move, March 28, 2014 - Friday.
Finally, some food for thought how much momentum prominent Chinese stocks lost in the second part of the month. See 50-DMA and 200-DMA for Baidu Inc. (NASDAQ:SIDU), Sina Corp. (NASDAQ:SINA) and Sohu.com Inc. (NASDAQ:SOHU).