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 shares record steep losses for the week

E-mail Print PDF

decline Jan. 22, 2010 (Chinavestor) China shares fell in Asia on Friday sending the Hang Seng Index (INDEXHANGSENG:.HSI) and the Shanghai Composite Index (SHA:000001) to their lows for 2010.  Hong Kong followed U.S. markets lower while Shanghai mood turned somber following credit tightening and early stimulus exit news.

The Hang Seng Index (INDEXHANGSENG:.HSI) shed -136.49 points or -0.65% on Friday to 20,726.18 at the close and is off -927.98 points or 4.3% for the week. Metal, construction material and energy companies weighted down the index and all three HKEx listed airliners lost steam and fell on Friday. But Huaneng Power (HKG:0902) (NYSE:HNP), a NYSE-HKEx cross-listed blue chip advanced 2.5% on lower cola prices and strong demand for 2010. The company sweetened production outlook to +11% growth this year.

The Shanghai Composite (SHA:000001) recovered most of her steep morning trading losses by the end of the day and closed -30.28 points or -0.96% lower on Friday. The index is off -4.5% for the week with China Petroleum & Chemical Corp. (SHA:600028) (NYSE:SNP) and Aluminum Corp. of China (SHA:601600) (NYSE:ACH) underperforming the most among SSEx-NYSE cross-listed blue chips. The Chinese government is intent on increasing interest rates to cool the economy after it expanded 10.7% in the fourth quarter last year. Investors took a note of the latest statement from the Chinese Bureau of Statistics where policy makers signaled that an exit from the stimulus package became timely.

Index futures point to a mixed open but the weak reading of the S&P futures threaten to drag markets lower for the day. President Obama's proposal to curb big banks risk taking hurts financials. Chinese ADRs are expected to follow U.S. markets lower but some oversold NASDAQ names might continue to outperform. For a stock specific break down, visit today's overbought/oversold report.

pre-2010122

index-2010122

aexpl-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