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China stocks up in Asia, U.S. remains uncertain

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pre-6-11-tumb(Oct. 9, 2009 - Chinavestor) Shares of Chinese companies rallied in Shanghai after a week long holiday. The Shanghai Composite Index advanced 132.29points or 4.29% on Friday, catching up with the rest of the world. but trading in Hong Kong was mute, with the Hang Seng index up 5% by Friday, there was not much upside left.

Remarks of FED Chairman Mr. Ben Bernanke that interest rates will remain low for some time sent index futures falling before the Bell on Friday. This is turn will hurt Chinese ADRs, capping a week of strong gains. for stock specific information, please read our overbought/oversold report in addition to this market commentary.

Regarding the Chinese ADR market, momentum is certainly back but the question is what direction the market is going to take. While the overall technical condition suggests more upside potential, a slight correction is always a possibility after such a strong week as this current one. If that happens, buy into weakness, assuming your risk tolerance is high.

pre-109

As the following technical reading of Chinese indices and ETFs suggests, there is more upside left for the FXI, CAF, TAO, HAO and related Chinese ETFs. A short term correction is likely, but the picture is bright for a longer term rally.

Index-109



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