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

Chinese stocks advance in Hong Kong but trade water in Shanghai

E-mail Print PDF

buy_sell_2 April 20, 2010 (Chinavestor) Shares of Chinese companies bounced back in Hong Kong but continued to suffer in Shanghai on Tuesday. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced +218.21 points or +1.02% to 21,623.38 by the close. The rally was universal, stocks that advanced outnumbered those that fell six to one among the forty two member index components. Chinese telecoms were on fire, all three major carriers made it to the best five performing stocks of the day. China Unicom (HKG:0762) reported March 2010 operational statistics on Monday while China Mobile (HKG:0941) reported unaudited 2010 first quarter results. The bottom line is that the telecom market isn't saturated, both carriers reported strong growth. China Telecom (HKG:0728) advanced 4.0% followed closely by China Mobile (HKG:0941) and China Unicom (HKG:0762) with a 3.3% advance.

Chinese airliners have returned to profitability and are expecting an improved 2010 Q1. China Southern Airlines (HKG:1055) and China Eastern Airlines (HKG:0670) rose 3.3% and 3.2%, respectively. 

But steel, metal and construction material stocks suffered both in Hong Kong and Shanghai.

Insurers outperformed in Shanghai despite a negative market sentiment. Shares of Ping An Insurance (SHA:601318) advanced +2.9% followed by China Pacific Insurance (SHA:601601). China Life Insurance (SHA:601628) rose +0.4% as earnings have started to roll in. China Pacific reported better-than-expected 2009 results and guided higher for 2010.

pre-2010420_etf

Chinese shares listed in U.S. equity markets have fallen significantly over the last two days. The number of Chinese ADRs trading below 50-DMA and 20-DMA have experienced a significant contraction. However index futures point to a higher open, suggesting the bottom is near for Chinese stocks. The low number of overbought and oversold China plays suggests a recovery will be universal.

pre-2010420_hk

The dramatic contraction of the Shanghai Composite Index (SHA:000001) is depicted by the following chart. The Chinese real estate ETF (NYSE:HAO) has been suffering along with the Morgan Stanley China Fund (NYSE:CAF), and for a reason. The rest of key indices and indicators have been trading in a much narrower range.

index-2010420

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