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Basic materials shine, technology stink

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cash_4 April 7, 2014 (Chinavestor) Chinese stocks were a mixed bag in first week of April. Consumer cyclical, basic material, energy and utility stocks made it to the black however consumer non-cyclical, technology and capital goods stocks fell significantly last week. Health care, services and financial sectors were undecided.

When it comes to individual stocks, Aluminum Corp. of China (NYSE:ACH) and Silvercorp Metals (NYSE:SVM) contributed the most to the 4.0% advance of the basic material sector. Huaneng Power Intl. (NYSE:HNP) rose 3.2% last week, the only China play in the the utilities sector. Chinese oil producers, Petrochina (NYSE:PTR) and CNOOC Ltd. (NYSE:CEO) lifted the energy sector while Sinopec (NYSE:SNP) and Yanzhou Coal (NYSE:YZC) were virtually unchanged.

The consumer cyclical sector is represented by a few, very small, not liquid Chinese stocks that are not investment grade in our opinion.

sector_20140404

Consumer non-cyclical sector is the same as consumer durables when it comes to investing. There are a good number of quality technology stocks though. The sector fell 2.9% on average, led by Qihoo 360 Technology (NYSE:QIHU), NetEase Inc. (NASDAQ:NTES), Sohu.com Inc. (NASDAQ:SOHU), and Sina Corp. (NASDAQ:SINA). Largest internet stock, Baidu Inc. (NASDAQ:BIDU) fell a mere 1.9%. The decline within the sector was universal, only a handful of stocks advanced, like SMI (NYSE:SMI), Yingli Green Energy (NYSE:YGE) or China Digital TV (NYSE:STV).

Small cap Wuhan General (NASDAQ:WUHN) and Cleantech Solutions (NASDAQ:CHLN) sank capital goods, TheĀ  sector lost 1.6% on average.

China Life Insurance (NYSE:LFC), the largest financial stock by far, fell 0.2%.



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