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 down in Asia as dollar gains

E-mail Print PDF

decline_7Dec. 17, 2009 (Chinavestor) China stocks continued to slide in Asia after the FED's decision to leave interest rates at record lows for many more months to come. The Shanghai Composite Index fell -76.14 points or -2.34% following concerns that large number of IPOs before the end of the year will suck up liquidity. Investors in Shanghai have started to rotate profits out of the best performing stocks to build up liquidity for the upcoming IPOs.

The Hang Seng Index in Hong Kong shed -264.11 points or -2.11% after the central bank of HK warned of possible asset bubbles in the city. Property developers fell hard followed by construction materials. Maanshan Iron (HKG:0323) fell 3.6% while Angang Steel (HKG:0347) dived -4.7%. H-shares of Yanzhou Coal (HKG:1171) (NYSE:YZC) shed -3.7%. But CNOOC ltd. (HKG:0883) (NYSE:CEO) advanced 0.5% despite negative market sentiment. Stocks that fell outnumbered those that advanced 10:1 out of the 44 member Hang Seng Index.

Index futures point to a lower open ahead the bell. Expect overbought China ADRs to experience a correction on Thursday.

pre-1217

The Chinese real estate ETF (NYSE:TAO) has been falling hard and the Samll Cap China ETF (NYSE:HAO) is expect to be next. But the Morgan Stanley China ETF (NYSE:CAF) is expected to outperform if not for today but for the upcoming days, because the CAF is trading well below her index, the Shanghai Composite Index.

index-1217



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