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Basic material, energy stocks outperform

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advance9 April 14, 2014 (Chinavestor) Basic materials, energy, and utility stocks have outperformed the market in the first two weeks of April, while consumer durables, technology, and capital goods stocks plunged. The market itself have had a tough ride with the NASDAQ plunging as much as 3% in just one day, last Thursday. All told, the Dow has lost 1.82% while the NASDAQ has slipped 3.78%. Meanwhile, the S&P 500 has shed 2.25% since March 31.
Aluminum Corp. of China (NYSE:ACH), the third largest aluminum maker in the world, surged 17.6% in the first two weeks of the month, lifting the rest of the sector. China XD Plastics (NASDAQ:CXDC) jumped 15.7%, the second most among basic materials. Silvercorp Metals (NYSE:SVM), a relatively liquid China play, was virtually unchanged.Given Chalco's large size compared to the rest, the energy sector jumped 15.2% on average.

Yanzhou Coal Mining (NYSE:YZC), China's third largest coal miner, advanced 12.0% in the first two weeks of April. Such jump is by far the best among other energy plays. CNOOC Ltd. (NYSE:CEO), China's offshore oil specialist, advanced 12% while Petrochina Co. Ltd. (NYSE:PTR), China's largest oi producer, rose 5.3%. Sinopec (NYSE:SNP), the largest Chinese oil refiner by volume, rose 4.1%.

Huaneng Power International (NYSE:HNP), the largest Chinese independent power generator, rose 4.4%, in line with the rest of the sector. As a matter of fact, the rest of the sector doesn't exist, HNP is the only Chinese utility company listed in American soil.

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Consumer durables and capital goods stocks fell the hardest. The problem for investors is that these stocks are small cap, not liquid Chinese plays and as such are not fit for investment. This is the reasason we don't elaborate on particular stocks from these sectors.

The technology sector is full of good names though. Unfortunate for investors, the sector suffered a 3.9% decline in the first two weeks. Sina Corp. (NASDAQ:SINA) and Qihoo 360 Technologies (NYSE:QIHU) contributed the most to the decline. Sina Corp. (NASDAQ:SINA) fell as much as 13.2% while Qihoo 360 Technologies (NYSE:QIHU) fell 12.6%. Good news for the sector that the largest by market cap and thus influencing the most of the sector performance, Baidu Inc. (NASDAQ:BIDU) fell off only 1.7% in the first two weeks of April. Sohu.com Inc. (NASDAQ:SOHU) fell 8.6% along the sector.

Besides the last two weeks performance, investors may want to see how Chinese stocks ended the period on Friday.

Petrochina Co. Ltd. (NYSE:PTR) rose the most among major listings thanks to a dismal $.30 advance. This tells a lot about the rest of the market...

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Good news is that even decliners were limited in scale. Sohu.com Inc. (NASDAQ:SOHU) fell $1.98 or 3.22% followed closely by China Life Insurance (NYSE:LFC). Internet heavy weight Baidu Inc. (NASDAQ:BIDU) was off by $1.23 on Friday. Sina Corp. (NASDAQ:SINA) followed BIDU from a distance and shed $.72 or 1.31%.

Chinese oil companies, other than PTR, fell. Sinopec (NYSE:SNP) $.85 and CNOOC Ltd. (NYSE:CEO) ended the week $.90 lower.



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