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 catch fire on earnings, housing data

E-mail Print PDF

hot_stock_flame Feb. 3, 2010 (Chinavestor) Chinese shares in Hong Kong and Shanghai jumped on Wednesday on strong U.S. housing data and earnings. The Hang Seng Index (INDEXHANGSENG:.HSI) rose +449.9 points or +2.22% to 20,722.08 points at the close. The rally was universal, each and every component of the forty four member index advanced. Traders in Shanghai were even more enthusiastic, sending the Shanghai Composite Index +69.12 points or +2.36% higher to 3,003.83.

NYSE-HKEx cross-listed blue chips led the rally in Hong Kong: CNOOC Ltd. (HKG:0883) (NYSE:CEO) advanced +9.4% after the company reported a very ambitious gas and oil exploration plan for 2010, increasing production by as much as 23 percent. Shares of Yanzhou Coal (HKG:1171) (NYSE:YZC) rose +5.3% and look to have reached the bottom after a month long slide.

Looking forward, index futures point to a lower open ahead the bell. Better then expected ADP jobs data was unable to lift index futures, setting a sombre tone for Chinese ADRs ahead the open. Chinese ADRs are well positioned from a technical point of view to take advantage of any rally, if that would be the case.

pre-201023

Chinese ETFs have been moving in a narrow range lately. Smaller can Chinese stocks have been the first to bounce back, according to the China small cap ETF (NYSE:HAO). U.S. Treasuries have been trading in a very narrow range while oil have picked up some momentum.

index-201023

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