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

Asia gives no direction for Chinese ADR trading on October 7

E-mail Print PDF

wall_street October 7, 2010 (Chinavestor) The Hang Seng Index (INDEXHANGSENG:.HSI) was trading in a narrow range as mixed signals from the world largest economy continue to tarnish market sentiment. Jobless claims and same store sales data is to be released on Thursday with more data coming on Friday; wholesale and employment reports. The Hang Seng Index (INDEXHANGSENG:.HSI) ended the day 3.9 points or 0.0 percent higher at 22,884.32. Shanghai remained closed in observance of the National Day Holiday.

Looking at individual stocks, Xinxin Mining (HKG:3833) continued to lead components of the Hang Seng Index (INDEXHANGSENG:.HSI) higher. Scramble to secure rare earth deposits is suspected behind the rally. NYSE-HKEx cross listed Huaneng Power Int. (HKG:0902) (NYSE:HNP), the largest Chinese independent power producer, rose 1.3 percent as investors expect a tariff hike later in October.

Large cap Petrochina Co. Ltd. (HKG:0857) (NYSE:PTR) and index heavy weight China Mobile (HKG:0941) (NYSE:CHL) both advanced in Hong Kong amid slight optimism. China Unicom (HKG:0762) (NYSE:CHU) fell as investors remain disappointed with its 3G growth and have changed their preference over to China Mobile (NYSE:CHL).

pre_2010107

Index futures point to a narrow open for the day as investors trim risk before earnings and jobs data. If components of the Hang Seng Index (INDEXHANGSENG:.HSI)  can serve as a proxy for ADR trading, outlook is good for Huaneng Power International (NYSE:HNP) but large cap China Mobile (NYSE:CHL) and Petrochina Co. Ltd. (NYSE:PTR) are expected to follow overall market sentiment. China Unicom (NYSE:CHU) and China Southern Airlines (NYSE:ZNH) are in trouble ahead the bell on Thursday.



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