Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

China ADRs are set to continue higher

E-mail Print PDF

Thumb_ADR_6-4Some small cap China ADRs rocked the house on Wednesday but trading in Hong Kong was muted. Index futures point to a higher open for the DJIA so just sit tight as rally for China ADRs may resume.

Looking back at trading on Wednesday, NASDAQ listed China stocks outperformed NYSE counterparts. Looking at the top ten China stocks for the day, NASDAQ listings outperofrmed NYSE listed China stocks by 9 to 1.Baidu.com (BIDU), the largest Chinese search engine by market share, advanced $8.86 to $286.86 setting a new record for 2009. Strong earnings and a positive outlook has been keeping the stock on fire after releasing first quarter earnings and outlook. The company commands a 63.4% market share in China's search market, far more than Google or Yahoo and its share keeps growing.ADR_6-4

Qiao Xing Universal Telephone (XING), a telecom equipment retailer, jumped 12.84% on hopes that Chinese carrier will have to heavily invest in infrastructure following the 3G roll out earlier this year. Chinese telecoms have been on fire as well, China Unicom (CHU), the second largest Chinese mobile carrier, is up 24% for the week.

Online game developers and operators continued to show strenght, The9 Limited (NCTY), Shanda Interactive (SNDA) and Giant Interactive (GA) closed all in positive territory. Online poartal Sohu.com (SOHU) and SIna Corp. (SINA) advanced as well.

On the negative side large cap oil and solar companies declined. Somber mood carried over to Hong Kong where the Hang Seng Index shed 73.7 points or 0.40% to 18,502.77. Shipping and retailers sunk and shares of CNOOC Ltd (0883.HK) (NYSE:CEO) continued to deteriorate in Hong Kong. But airliner China East Air 0670.HK) (NYSE:CEA) advanced on lower oil and China Unicom (0762.HK) (NYSE:CHU) resumed its five day rally. Large cap China Life (LFC) managed to eke out a 0.2% gain despite hostile market environment.

Looking ahead the picture is more rosy. Index futures point to a higher open and with China ADRs not  too heavily overbought, they are expected to participate in a broad rally. Stocks with additional support include Yanzhou Cioal (YZC) and CNOOC Ltd (CEO). According to documents submitted to the HKEx, institutional investors snapped up significant amount of Yanzhou H shares, a positive sign for the stock. On the same time management of CNOOC Ltd (CEO) continued to accumulate shares of the company, a move seen by many as insider confidence in the company is strong.

 



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!

Free weekly newsletter

Get hot China stock news every Monday