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Tech stocks on fire in June

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China_flag1June 30, 2014 (Chinavestor) Technology stocks ended the month of June on a high note. Ctrip.com International (NASDAQ:CTRP) was particularly good while Baidu Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA) followed her closely. Good news for tech investors is that the sector was hot for most of the month, second best behind consumer non-cyclical stocks. Most of the advance is due to Synutra International (NASDAQ:SYUT), a stock that surged 19.6% in June.

Energy stocks fell hard at the end of June but were able to hang on to most of the gains they recorded earlier the month. Sinopec Corp. (NYSE:SNP) and Petrochina Co. Ltd. (NYSE:PTR) fell $1.51 and $.69 on Monday, while CNOOC Ltd. (NYSE:CEO) shed $.15. The energy sector gained 5.4% in June compared to 6.7% of utilities, 9.4% for technologies and 13.0% for consumer durables.

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The month of June wasn't a cake walk for Chinese financial, healthcare and consumer cyclical stocks. Sector heavy weight China Life Insurance (NYSE:LFC) fell 3.5%, dragging the rest of the sector down. Mindray Medical (NYSE:MR) managed to eke out same gain but all other health care stocks fell in June. Most consumer cyclical stocks fell, except for Acorn International (NYSE:ATV). China Zenix Auto (NYSE:ZX), the largest stock within the sector, fell 3.0%.

The following chart pay attention to larger stocks, those that have sufficient market cap and trading volume. Ctrip.com International (NASDAQ:CTRP) jumped $3.26 on Monday, making it the best major Chinese ADR for the day. Sina Corp. (NASDAQ:SINA) rose $1.91 or 3.99% while Baidu Inc. (NASDAQ:BIDU) advanced $1.85 or 1.00%.

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Sinopec (NYSE:SNP) on the other hand fell $1.51, far more than any other China ADR on Monday. 58.com Inc. (NYSE:WUBA) succumbed to profit taking and fell $.84.



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