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 inch higher in Asia as February begins

E-mail Print PDF

advance5 February 1, 2011 (Chinavestor) Chinese stocks continued to rise, albeit at a slower pace, in Asia on Tuesday. The Shanghai Composite Index (SHA:000001) rose 8.7 points or 0.3% while the Hang Seng Index (INDEXHANGSENG:.HSI) advanced 35.6 points or 0.2%. Earnings and news from Egypt moved the markets, stopping the rally of oil and commodities. But Chinese stocks were kept at bay by news that China's manufacturing activity remained strong, underscoring calls for more monetary tightening.

U.S. listed Baidu.com Inc. (NASDAQ:BIDU), the largest search engine in  China, beat estimates and is up 7% in pre-market trading. That news will galvanize the rest of the sector, boosted by strong earnings from AsiaInfo-Linkage (NASDAQ:ASIA) and Changyou.com Ltd. (NASDAQ:CYOU).

Oil stocks continued to drive the Hang Seng index (INDEXHANGSENG:.HSI). Oversold CNOOC ltd. (HKG:0883) jumped 2.7% followed by Petrochina Co. Ltd. (HKG:0857), China's largest oil producer. Petrochina Co. Ltd. (NYSE:PTR) rose 6% in the last two days in Asia, its best two day jump for the past three months.  But airliners continued to feel the pressure from high oil prices and fell.

Resource and oil stocks moved the Shanghai Composite Index (SHA:000001) higher. Aluminum Corp. of China (SHA:601600) surged 2.8% followed closely by Petrochina Co. Ltd. (SHA:601857). But industrials fell led by Saic Motor (SHA:600104), China's largest auto maker, and China South Locomotive (SHA:601766), as fears of tightening might choke growth. 

pre_201121

Looking at components of key Chinese ETFs in Asia this morning, energy stocks led the Xinhua 25 China index higher. But the advance was not limited to large caps as components of the Guggenheim Small Cap China ETF (NYSE:HAO) testify. Stocks that advanced outnumbered those that fell two to one among the 162 components of the HAO.

pre_201121_etf

Earnings will remain in the focus for Chinese ADRs as internet stocks continue to report. Strong earnings from Baidu.com (NASDAQ:BIDU) continue to galvanize the rest of the sector. Sohu.com (NASDAQ:SOHU) and its online game arm, Changyou.com (NASDAQ:CYOU) reported sound earnings yesterday, boosting sentiment for the sector.



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