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 open December higher in Asia

E-mail Print PDF

snow_2 December 1, 2010 (Chinavestor) Chinese stocks rose in Asia on Wednesday as strong manufacturing data mitigated effects of fiscal tightening. China’s Logistics Federation released the latest Purchasing Managers’ Index for November, indicating that manufacturing activity rose for the fourth straight month. Data suggests that the economy in China can withstand monetary tightening, a likely scenario for most of South-East Asia and India. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 248.1 points or 1.0% while the Shanghai Composite Index (SHA:000001) eked out a small 3.3 points or 0.1% gain.

pre_2010121_index

Yanzhou Coal (HKG:1171) (NYSE:YZC) was the best performing NYSE cross-listed component of the Hang Seng Index (INDEXHANGSENH:.HSI) with a 2.8% advance. But China Southern Airlines (HKG:1055) (NYSE:ZNH) succumbed to profit taking and fell 2.5%, the most among 42 components of the index. Investors were cautious in Shanghai, embracing the financial sectors after weeks of heavy sell-off. Industrial and Commercial Bank of China (SHA:601398) rose 2.1% just below that of Zijin Mining (SHA:601899), China's largest gold miner. Ping An Insurance (SHA:601318) fell 1.2%, the most among the 50 largest components of the Shanghai Composite Index (SHA:000001).

pre_2010121_etf

Most components of the iShares FTSE/Xinhua 25 Index (NYSE:FXI) advanced in Asia this morning, led by BOC Hong Kong and Air China. But Huaneng Power (HKG:0902) (NYSE:HNP), China's largest independent power producer fell for the fifth day in a row.

If components of the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as proxy for Chinese ADR trading, outlook is best for Yanzhou Coal (NYSE:YZC) and China Life Insurance (NYSE:LFC), but Huaneng Power (NYSE:HNP) is expected to continue to suffer.



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