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

Stocks up in Asia on strong U.S. jobs data

E-mail Print PDF

advance2 April 5, 2010 (Chinavestor) Markets were closed in Hong Kong and Shanghai on Monday but stocks rose in Asia following a strong U.S. jobs report. Besides China, stock markets were closed in Australia, New Zealand, and Taiwan. Trading will resume on Wednesday in Hong Kong and Tuesday in Shanghai. Optimism is not limited to the U.S. Chinese manufacturing data was robust while the Tankan survey suggested investor sentiment is improving in Japan is  as well.

Chinese resource and mining stocks outperformed on Good Friday in Shanghai, the last trading day to reach back to, as demand for metals and raw materials is on the rise. There were three mining giants among the best five stocks last Friday in Shanghai: Jiangxi Copper (SHA:600362), the largest Chinese miner of the metal, Zijin Mining (SHA:601899), the largest Chinese gold miner, and Western Mining (SHA:601168). Looking at NYSE-SSEx cross-listed blue chips in Shanghai, shares of Aluminum Corp. of China (SHA:601600) (NYSE:ACH) advanced +1.4% followed closely by Sinopec (SHA:600028) (NYSE:SNP).

Global shipping companies continued to outperform sending the Claymore/Delta Global Shipping ETF (NYSE:SEA) +2.86% higher last Thursday. Even better the Morgan Stanley China A Share Fund, Inc. (NYSE:CAF) jumped +3.83% last Thursday as investors bet on a Chinese break-out in the second quarter of the year following a lackluster performance for the first three month of the year.

pre-201045_etf

Chinese stocks listed in American exchanges are heading to a strong start on Monday. Index futures point to a higher open, setting a stage for a potentially positive day for Chinese ADRs as well. Large cap liquid stocks are expected to do well along with momentum driven smaller counterparts. Momentum is back for Chinese ADRs as the following indicators testify. The number of Chinese stocks trading above 20-DMA and 50-DMA is on the rise, just as is the number of overbought and oversold China plays.  The earnings calendar is light for the week.

pre-201045_hk

Chinese indices have been strong as of last week with Shanghai taking the lead. The  Morgan Stanley China A Share Fund, Inc. (NYSE:CAF) advanced +7.04% last week and is approaching theoretical highs - but strong money flows suggest  a pullback is not imminent. Global shipping was under pressure on lower cargo fees but have improved significantly last week, as is evidenced by the surge in the  Claymore/Delta Global Shipping ETF (NYSE:SEA). Despite a sizable lift more upside is on the way for shipping companies as they lag the rest of the stock universe.

index-201045



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