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

Shanghai oversold before four day break

E-mail Print PDF

decline1 April 29, 2010 (Chinavestor) Chinese stocks fell in Hong Kong and in Shanghai on Thursday, extending their slide for the sixth day on the Mainland. But the Shanghai Composite Index (SHA:000001) became oversold, suggesting a strong rebound is possible after reopening on Tuesday. The stocks exchange will be closed on Friday due to the opening of the Expo 2010 while May 1st is a national holiday in China.

Chinese telecoms fell hard in Hong Kong on Thursday. China Unicom (HKG:0762) (NYSE:CHU) fell -3.2% while China Telecom (HKG:0728) (NYSE:CHA) tumbled -5.2% as first quarter earnings rolled in. China Unicom reported a -68% fall in 2010 Q1 net income as 3G marketing cost soared. But shares of Yanzhou Coal (HKG:1171) (NYSE:YZC), the third largest coal miner, jumped +6.7% as energy prices rebounded. The company reported a first quarter net increase of 180%. Yanzhou Coal 2010 Q1 profit doubles.

pre_2010429_etf

The DJIA rose on the back of financials while strong earnings from P&G, Motorola keep investors excited. Exxon is going to report today in addition. Profits of Baidu.com (NASDAQ:BIDU) more than doubled and the company issued a better than expected top line forecast for the second quarter, up to $267 mil. vs. $239 estimate. The stock is up 15% in pre-market trading well past $700 a share...

Expect China Unicom (NYS:ECHU) to fall on the NYSE today along with China Telecom (NYSE:CHA). But energy stocks - including Yanzhou Coal (NYSE:YZC) are expected to do very well...

pre_2010429_hk

The Shanghai Composite Index (SHA:000001) is not oversold - is poised to bounce back up right on Tuesday when the exchange reopens. Chinese real estate stocks continue  to under-perform - as is evidenced by the lack of momentum in the China Real Estate ETF (NYSE:TAO).

Index_2010429

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