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China stocks end week on high note, Feb 11

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advance3 February 11, 2011 (Chinavestor) Chinese shares stabilized over Friday after days of heavy losses earlier the week. The Shanghai Composite Index (SHA:000001) advanced 9.6 points or 0.3% on Friday  despite news that Beijing increased reserve ratio for certain banks. The Hang Seng Index (INDEXHANGSENG:.HSI) edged 120.3 points or 0.5% higher on Friday but is sill off over 1,000 points or 4.5% for the week.

Airliners and energy companies led the index higher while resource and telecoms sectors remained mixed. H-shares of China Southern Airlines (HKG:1055) (NYSE:ZNH) and China Eastern Airlines (HKG:0670) (NYSE:CEA) were among the best performing components of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI). Oversold CNOOC Ltd. (HKG:0883) (NYSE:CEO), China's offshore oil specialist, broke a 5 day loosing streak and advanced 1.9%.

NetEase.com Inc. (NASDAQ:NTES) and Shanda Interactive (NASDAQ:SNDA) are stocks to watch from Thursday for these companies advanced the most among Chinese ADRs yesterday.

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Most laarge cap Chinese stocks advanced in Hong Kong on Friday, boding well for the iShares FTSE/Xinhua China 25 Index ETF (NYSE:FXI). The rally was less universal among small cap stocks in Asia this morning, as the 162 members of the Guggenheim Small Cap China Index (NYSE:HAO) testify.

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Online game developer and operator NetEase.com Inc. (NASDAQ:NTES) and Shanda Interactive (NASDAQ:SNDA) advanced the most among Chinese ADRs on Thursday as investors await financial reports later the month. NetEase.com Inc. (NASDAQ:NTES) is scheduled to report on February  23 after the close while Shanda Interactive (NASDAQ:SNDA) is scheduled to early March. China Green Agriculture (NYSE:CGA) fell 6.1%, some of the most among NYSE listed Chinese stocks, after a mixed outlook and lackluster growth in the latest quarter.

If components of the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as proxy ahead of ADR trading, outlook is great for Chinese airliners such as China Eastern Airlines (NYSE:ZNH) and China Southern Airlines (NYSE:CEA). Oversold CNOOC Ltd. (NYSE:CEO) is expected to bounce back up along with Sinopec (NYSE:SNP), Asia's largest refiner.



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