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Services, utilities rock, consumer stock slump in January

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snow_1 January 23, 2015 (Chinavestor)Here is a recap what Chinese stocks did best in2 015 so far... Services, utilities, financial and health care stocks outperformed the rest. Consumer stocks failed just like capital goods and technology. Best stocks: China Mobile (NYSE:CHL), China Unicom (NYSE:CHU) among telecoms, and Huaneng Power Intl. (NYSE:HNP) from utilities. China Life Insurance (NYSE:LFC) and CNinsure (NASDAQ:CISG) rocked among financials and tiny WuXi Pharma (NYSE:WX) lifted the health sector. Larger Mindray Medical (NYSE:MR) hummed along. So far the good news. Stocks on the decline? China Zenix Auto (NYSE:ZX) fell over 20% just like Deer Consumer Products (NASDAQ:DEER) and Acorn Intl. (NYSE:ATV). These stocks sank the consumer cyclical sector.  Agria Corp. (NYSE:GRO) and Synutra Intl. (NASDAQ:SYUT) fell 7%, taking care of consumer durables.

China_sector_jan232015

Interestingly, the Chinese technology sector was a mixed bag. Selected online gamers, such as NetEase Inc. (NASDAQ:NTES) and Perfect World (NASDAQ:PWRD) did very well, however sector heavy weight Alibaba Group (NYSE:BABA) fell 2.3% YTD. Second largest Baidu.com Inc. (NASDAQ:BIDU) advanced a mere 2.2% so far this year.

Money flow analysis may come handy going forward. Huaneng Power Intl. (NYSE:HNP) is looking good based on strong money flows. See chart below.

MF_util_jan2015

The same is certainly not true for Chinese services stocks. China Mobile (NYSE:CHL) and China Unicom (NYSE:CHU), two of the largest telecoms dominating the sector, did well in January but money flows are lacking! This means that when CHL and CHU advanced, trading volume was lower than average. This doesn't bode well going forward.

MF_services_jan2015

As we said, the Chinese technology sector was a mixed bag. And so is the money flow chart of the sector. There have been significant up and down swings in money flows, depending what large player did what on a particular day. Alibaba Group (NYSE:BABA) fell below $100 earlier the week but has recovered to $104, any of those moves are in the money flow chart. Baidu Inc. (NASDAQ:BIDU) has had a much smoother ride in 2014. Market cap of Perfect World (NASDAQ:PWRD) under $1 billion is not going to effect the MF line when BABA and BIDU are 200 times as large... The same goes to NetEase.com Inc. (NASDAQ:NTES).

 

MF_tech_jan2015



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