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

Shanghai up, Hong Kong down, index futures point to lower open for Chinese stocks

E-mail Print PDF

pre-6-10-tumbTrading of Chinese equities around the globe gave mixed signals ahead the bell on Monday. The Shanghai Composite Index <.SSEC> advanced 1.18% to 3,124.66 points on Monday, easily bypassing the 3,000 resistance level last week. But trading in Hong Kong was muted and reflected global economic worries that recovery in the U.S. may take longer than expected. The Hang Seng Index <.HSI>, benchmark for Hong Kong, fell 223.99 points or 1.23% to 17,979.41 in an erratic trading.

Index futures point to a lower open ahead the bell with traders still moaning over the weak job reports from last week. Chinese stocks listed on American exchanges are subject to market sentiment and thus are expected to perform poorly on Monday with some excepcion. CChina Life (601628.SS: Quote, Profile , Research) (LFC: Quote, Profile , Research) (2628.HK: Quote, Profile , Research) advanced both in Shanghai and in Hong Kong on Monday following a Credit Suisse upgrade citing improved outlook.

Looking at Chinese ADRs from a technical point of view the picture is not rosy. Most China stocks have lost momentum, not a single ADR is overbought. Most are trading below 20-DMA and 50-DMA, a sure sign of lost short term momentum. But with RSI in the red, the outlook for the week is different from Monday's.

 

 

pre-76



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