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China stocks tumble in Asia on Monday

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decline_8 May 17, 2010 (Chinavestor) Black Friday extended into Black Monday for Chinese stocks around the globe. Each and every component of the DJIA fell last Friday, a trend followed by the SSE-50 Index, tracking the 50 largest publicly traded Chinese companies in Shanghai. The Hang Seng Index (INDEXHANGSENG:.HSI) tumbled -430.2 points or -2.2% to a 14-week low while the Shanghai Composite Index (000001) fell -136.7 points or -5.3% to 2,559.93, a level not seen since May 4, 2009. China's Premier, Wen Jiabao, said that the government will decisively crack down on property price increases, sparking a broad sell-off.   

pre_2010517_etf

Chinese ADRs suffered a heavy blow last Friday as is evidenced by the sharp drop in the China ADR Index below.

index_2010517

Looking into Monday's China ADR trading, earnings will come into play besides overall market sentiment. China Distance Education Holdings Ltd (NYSE:DL) will report before the open on Monday. The company issued an in-line revenue guidance for the upcoming quarter. China stock earnings calendar, May 17-21.



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