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

Hong Kong as a proxy for NYSE trading

E-mail Print PDF

economy2(Oct. 27, 2009 - Chinavestor) Chinese share fell hard in Asia on Tuesday following American markets lower. The Shanghai Composite fell -88.11 points or 2.83% to 3,021.46 while the Hang Seng index of Hong Kong declined -420.14 points or 1.86% to 22,169.59 points at the close.

The Hang Seng Index was squeezed by property developer stocks on fears that new rules, requiring more down payment and stricter financials for luxury condominiums, will damp demand. But the weakness in America didn't help either. The decline was universal, stock that fell outnumbered those that advanced 4:1 out of the forty four member index. CNOOC ltd. (NYSE:CEO) (HKG:0883), Huaneng Power (NYSE:HNP) (HKG:0902), Petrochina (NYSE:PTR) (HKG:0857) and China Mobile (NYSE:CHL) (HKG:0941) were mong notable NYSE-HKEx cross listed stocks that fell hard in Hong Kong this morning.

But shares of China Life Insurance (HKG:2628) (NYSE:LFC), Yanzhou Coal (HKG:1171) (NYSE:YZC), and China Eastern Airlines (HKG:0670) (NYSE:CEA) rose in Hong Kong on Tuesday.

Yanzhou Coal (NYSE:YZC) was helped by strong earnings by rival China Shenhua (HKG:1088), China's largest coal producer. China Life (HKG:2628) reported strong earning on Monday, while China Eastern Air (HKG:0670) was up on lower oil price.

Looking forward, expect oversold China NASDAQ names to do well ,besides LFC, CEA and YZC. Baidu.com (NASDAQ:BIDU) and Sohu.com (NASDAQ:SOHU) fell over 10% and a technical bounce back is highly likely.

pre-1027

Chinese ETFs and indices are expected to follow overall market sentiment. Expect the China Real Estate ETF (NYSE:TAO) to come off previous highs today.

index-1027



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