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 look good ahead the Bell on Tuesday

E-mail Print PDF

bounce_back(Oct. 20, 2009 - Chinavestor) With a strong market day on it back, positive market days in Asia early morning, upbeat earnings and index futures pointing to a higher open, China stocks are set to do well on Tuesday morning.

The Shanghai Composite index advanced 48.18 points or 1.52% to 3,084.45 on strong economic growth in China. GDP is said to expanded by 7% in the first nine months of the year and is accelerating, placing the targeted 8% growth for the whole year within reach.

Trading in Hong Kong reflected strong American market sentiment. The Hang Seng Index continued to climb adding 184.5 points or 0.83% to 22,384.96 by the close. All three major Chinese carriers reported September subscriber numbers, showering investors with data to digest. Shares of China Telecom (HKG:0728) (NYSE:CHA) advanced 0.5% while shares of China Mobile (NYSE:CHL) (HKG:0941) and China Unicom (NYSE:CH) (HKG:0762) fell -0.7% and -0.9%, respectively. Most Hong Kong - NYSE cross-listed blue chips fell except for Guangshen Rail (NYSE:GSH) (HKG:0525), Huaneng Power (NYSE:HNP) (HKG:0902), Aluminum Corp. of China (NYSE:ACH) (HKG:2600) and China Life Insurance NYSE:LFC) (HKG:2628).

When it comes to American listed China stocks it is all about earnings, no one is paying attention to the weak reading of the housing market index. Apple beat estimates after the close, just as did DuPont's and United Health's. Index futures point to a higher open, setting a stage for another strong day for momentum China stocks. See Chinavestor's overbought/oversold report this morning for stock specific reading of China ADRs.

pre-1020

When it comes to Chinese indices and ETFs compared to their American counterpart, the DJIA is the most overbought - but its strength is fundamental driven and thus is sustainable at least for the short term. The FXI and other China ETFs are in sync with the Hang Seng Index and have upside left, stemming from a possible strong market day.

index-1020

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