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 stocks poised to outperform ahead big day of earnings

E-mail Print PDF

advance_8(Oct. 19, 2009 - Chinavestor) The good news is that Chinese stocks advanced in Asia ahead of big earnings day on Monday. The Shanghai Composite Index (SHA:000001) blasted over the 3,000 psychological level by advancing 61.64 points or 2.07% to 3,038.27 at the close. This strong performance is partially attributed to the strong performance of property developers. China Vanke (SHE:000002), the largest Chinese publicly traded property developer in China, advanced 6.84% on Monday following statistics showing strong price increase in the sector with the number of transactions on the rise. Another factor contributing to the rally was the easing of regulatory environment allowing insurance companies buying corporate bonds.

Trading in Hong Kong was just as euphoric following news that China's economic growth surpassed 7% in the first nine months of 2009. Stocks that adavanced outnumbered those that fell ten to one out of the forty four member Hang Seng Index (INDEXHANGSENG:.HSI) components. The index advanced 270.56 points or 1.23% by the close. Hang Seng Index heavy weight Petrochina (HKG:0857) (NYSE:PTR) advanced 3.01% as investors bet on the economic recovery is going to continue. CNOOC Ltd. (HKG:0883) (NYSE:CEO), the off-shore oil specialist from China, advanced 4.2% on strong crude prices as well. China Life Insurance (HKG:2628) (NYSE:LFC) rose 1.82% following strong premiums income growth report released last Friday. 

When it comes to China ADRs, the picture is bright ahead the Bell on Monday. Not only did China stocks do well in Asia but index futures point to a higher open on Monday. But with over 400 companies to report earnings this week, plus the closely watched Housing Market Index tomorrow, a volatile week ahead is more likely. Companies to report this week include McDonald's, American Express, DuPont, Caterpillar and AT&T, among others. The list of big names to report today include Apple. Boston Scientific, Hasbro and Texas Instruments.

The good news is that China stocks have lot of upside potential left from a technical point of view. The number of overbought China ADRs is only two and the # of China stocks trading above 50-DMA is less then a week ago.

pre-1019

Looking at China indices and ETFs, the picture is rosy as well. The Hang Seng index advanced 270 points on Monday leaving room for the FXI, HAO, TAO to advance over one percent just to catch up.

index-1019



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