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 cautiously optimistic in China as earnings roll in

E-mail Print PDF

advance5 April 14, 2010 (Chinavestor) Chinese markets were cautiously optimistic on Wednesday ahead of more earnings from the U.S. The Hang Seng Index (INDEXHANGSENG:.HSI), just like the Shanghai Composite Index (SHA:000001), opened low but ended the day higher on Wednesday. Resource plays pulled up indices but airliners, financial institutions and energy stocks weighted on the market. Property prices rose +11.7% in March, the most in 2010, spurring speculation that China will have to dislodge the Yuan-dollar peg and let interest rates rise to prevent asset bubbles to form.

Resource plays shined in the mainland, Zijin Mining (SHA:601899), the largest Chinese gold miner, rose +2.9% followed by Jaingxi Copper (SHA:600362) with a 2.6% advance. Shares of Aluminum Corp. of China (SHA:601600) (NYSE:ACH) rose +1.4% in Shanghai. But large cap ICBC (SHA:601398), the largest financial institution in the world, fell -0.8% just as did Petrochina Co. Ltd. (SHA:601857) (NYSE:PTR).

Chinese airliners fell the most in Hong Kong on Wednesday. China Eastern Airlines (HKG:0670) (NYSE:CEA) dived -3.8% while China Southern Airlines (HKG:1055) (NYSE:ZNH) fell -3.4%. Air China (HKG:0753), the Beijing based carrier, shed -2.4%. 

pre-2010414etf

Index futures point to a higher open ahead of the Bell on Wednesday. Strong earnings from Intel (NASDAQ:INTC) lift the tech sector while DJIA components are upbeat following strong earnings from JP Morgan & Chase (NYSE:JPM). Chinese ADRs have been losing some of their shine lately according to technical indicators. The number of Chinese ADRs trading above their 20-DMA and 50-DMA reached a plateau, or might be considered as taking a break. Nevertheless today may be another potentially strong market day for Chinese stocks.

pre-2010414hk

The Morgan Stanley China A Share Fund, Inc. (NYSE:CAF) will have to catch up with the Shanghai Composite Index (SHA:000001), suggesting a surge lay ahead for the CAF. Treasuries fell while the oil is mostly unchanged, according to the following chart. The Claymore/Delta Global Shipping ETF (NYSE:SEA) has caught up with the rest of the market, any extension of the rally from here is uncertain.

index-2010414

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