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

Energy stocks lead Chinese stocks in Asia, Nov. 11

E-mail Print PDF

oil_barrel1 November 11, 2010 (Chinavestor) Chinese indices rose sharply in Asia thanks to sound performance of energy and financial stocks. Oil jumped over $88/barrel in Asia on low U.S. stocks, starting speculations about an inevitable gasoline price increase. The Shanghai Composite Index (SHA:000001) surged 32.4 points or 1.0% while the Hang Seng Index (INDEXHANGSENG:.HSI) advanced 199.7 points or 0.8%. Key stocks of the day included Petrochina Co. Ltd. (NYSE:PTR), China's largest oil producer, and China Petroleum & Chemical Corp., known as Sinopec, (NYSE:SNP), Asia's largest refiner. CNOOC Ltd. (NYSE:CEO), China's offshore oil specialist shined as well.

The surge of Petrochina Co. Ltd. (SHA:601857) was so impressive that it became the best performing stock among the 50 largest components of the Shanghai Composite Index (SHA:000001). Petrochina's 7.7% advance was followed closely by another energy giant, China Petroleum & Chemical Corp. (SHA:600028). Another iconic energy stock, the largest Chinese coal miner China Shenhua Energy (SHA:1088), surged 2.5%. All three energy majors made it to the best five stocks among the 50 largest Shanghai listings.

Ping An Insurance (SHA:601318) advanced sharply in both Shanghai and Hong Kong. Its H-shares (HKG:2318) surged 4.7%, making it the best performing component of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI). H-shares of CNOOC Ltd. (HKG:0883) rose 3.4%, the best among energy majors, with Petrochina (HKG:0857) right on its back with a 3.3% surge. Sinopec Corp. (HKG:0386) advanced 2.8% in Hong Kong.

But autos fell both Asian markets. Brilliance China Auto (HKG:1114) tumbled 6.5%, the most among components of the Hang Seng Index (INDEXHANGSENG:.HSI), while BYD Company (HKG:1211), a Warren Buffet backed electric battery and car maker, shed 1.9%. SAIC Motor (SHA:600104), the largest car maker in China, shed 0.2%.

pre_20101111_index

Ping An Insurance (HKG:2318) was the best performing component in Asia of the iShares FTSE/Xinhua 25 Index ETF (NYSE:FXI). China Unicom (NYSE:CHU), Petrochina Co. Ltd. (NYSE:PTR) and CNOOC Ltd. (NYSE:CEO) all shined.

Looking at components of the Guggenheim Small Cap China ETF (NYSE:HAO), United Enegy (HKG:0467) was the best component of the ETF but Ports Design Ltd. (HKG:0589) fell hard.

pre_20101111_etf

Asian indices rose sharply  thanks to higher energy and commodity prices, but European stocks gave up all early morning gains as the G-20 convenes. If components of the Shanghai Composite Index (SHA:000001) and the Hang Seng Index (INDEXHANGSENG:.HSI) were proxies for Chinese ADRs, outlook is the brightest for CNOOC ltd. (NYSE:CEO) and Petrochina Co. Ltd. (NYSE:PTR) among energy stocks. Investors should do well with China Petroleum & Chemical Corp. (NYSE:SNP) and Yanzhou Coal (NYSE:YZC), too. China Unicom (NYSE:CHU) shined in Hong Kong but China Mobile (NYSE:CHL) fell as rotation within the sector closed a recently developed price gap between the two.



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