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 drops -3.2%

E-mail Print PDF

decline1(Sept. 18, 2009 - Chinavestor) The Shanghai Composite Index (SHA:000001) fell 3.2% on Friday for no apparent reason. Financials took a hit following rumors that  CEO of BOC Hong Kong Holdings sold 600,000 shares. Industrial and Commercial Bank of China (SHA:601398) fell 2.1% but smaller lenders suffered more. Bank of China, Bank of Communications, China Merchants Bank and China Construction Bank (SHA:601939) all fell over 2.5%.

 

Hong Kong trading was mute as well as investors took profits off the table. The Hang Seng Index fell 145.06 points or 0.67% to 21,623.45 but is still 456 points ahead of last week's close.

China ADRs have sustainable momentum but volatility is coming back as some NASDAQ listed China ADRs are heavily overbought. Small cap stocks are chased by hot money, on top of the overall situation. UTI Starcom is a stock that keeps popping up for no reason. But as the oversold indicator this morning suggests, China Mobile (NYSE:CHL) is oversold, a situation value investors should not pass on.

pre-918

Looking at Chinese ETFs this morning, the Morgan Stanley China (NYSE:CAF) is in danger following a drop in Shanghai. But the HAO and PGJ ETFs look safe while the FXI is subject to a small correction.

index-918

expl-obos



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