June 10, 2014 (Chinavestor)There are two stocks that moved unusually big compared to the rest on Tuesday. One is Baidu Inc. (NASDAQ:BIDU) and the other is Huaneng Power (NYSE:HNP).
Baidu Inc. (NASDAQ:BIDU) advanced $4.55, by far the most among US listed Chinese stocks. Second best China play was CNOOC Ltd. (NYSE:CEO), China's offshore oil driller. Petrochina (NYSE:PTR) and Sinopec (NYSE:SNP) advanced similarly to CEO, saying that the Chinese energy landscape is moving along the market.
These stocks are the heavy hitters, large cap Chinese stocks that move the market. Smaller but good trading stock Ctrip.com Intl. (NASDAQ:CTRP) rose $1.81, leaving a good day behind. CTRP was flat for the last four trading days, so today's advance brought welcome news to investors.
But it wasn't a cake walk for everyone on the Street. Huaneng Power International (NYSE:HNP), China's largest independent power generator, fell $2.04. The increase in volume suggests more downside may follow...
All other Chinese stocks fell less than a dollar today just as the chart above testifies.