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 stocks rise in Asia on July 21

E-mail Print PDF

advance5 July 21, 2010 (Chinavestor) World markets were buoyed by a record quarterly report from Apple Inc. (NASDAQ:AAPL). The U.S. tech company reported 78 percent jump in net income for the second quarter helped by strong sales. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced 222.6 points or 1.1 percent and the Shanghai Composite Index (SHA:000001) rose 6.7 points or 0.3 percent. Trading in Hong Kong, a market open to the world, reflected global sentiment while Shanghai continued to focus on Chinese economic news.

Chinese airliners rose sharply in Hong Kong following strong passenger growth reports. China Southern Airlines (HKG:1055) (NYSE:ZNH), the largest Chinese airline, advanced 5.0 percent. Air China (HKG:0753), the country's flagship carrier, rose 4.6 percent while China Eastern Airlines (HKG:0670) (NYSE:CEA), the second largest Chinese carrier, jumped 4.24 percent. Other notable HKEx-NYSE cross-listed blue chips with a significant uptick include Aluminum Corp. of China (HKG:2600) (NYSE:ACH), China Telecom (HKG:0728), CNOOC Ltd. (HKG:0883) (NYSE:CEO) and Huaneng Power (HKG:0902) (NYSE:HNP).

Trading was almost as euphoric in Shanghai - though index heavy weight Industrial and Commercial Bank of China (SHA:601398) and Petrochina Co. (SHA:601857) weighted down the index. The world's largest financial institution fell 0.42 percent while China's largest oil producer failed to edge higher. But most stocks advanced, outnumbering those that fell two to one. SAIC Motor Co. (SHA:600104), the largest Chinese car maker, advanced 3.0 percent as investors bet on the resurgence of domestic consumption.

pre_2010721_index

Index futures point to a higher opening for U.S. equities and Chinese ADRs alike. If trading in Hong Kong can serves as a proxy for U.S. listed Chinese stocks, then outlook is bright for China Southern Airline (NYSE:ZNH) and China Eastern Airline (NYSE:CEA), and to a lesser degree for Aluminum Corp. of China (NYSE:ACH), China Telecom (NYSE:CHA), Huaneng Power (NYSE:HNP) and CNOOC Ltd. (NYSE:CEO).

On the earnings front, Baidu.com (NASDAQ:BIDU), the largest search engine in China, is going to report at 8:00 P.M. on Wednesday. China stock earnings calendar, July 19-23.



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