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

Libya roils Chinese stocks in Asia

E-mail Print PDF

oil_barrel1 February 23, 2011 (Chinavestor) Stocks have continued to fall in Hong Kong on Wednesday as Libya neared a civil war, threatening to disrupt oil supplies. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 83.9 points or 0.4% on top of the 490 points drop the day before. But investors were less obsessed with the African country helping the Shanghai Composite Index (SHA:000001) recover some of the losses. The main barometer of mainland stocks eked out a small 7.1 points or 0.2% gain.

Zijin Mining (HKG:2899) (SHA:601899), the largest gold miner in China, rose handsomely in both key Asian markets as price of gold jumped. H-shares of China Southern Airlines (HKG:1055) (NYSE:ZNH), the largest Chinese carrier, bounced back up 1.1% but China Eastern Airlines (HKG:0670) (NYSE:CEA) failed to gain traction. China Mobile (NYSE:CHL), Huaneng Power (NYSE:HNP) and Yanzhou Coal (NYSE:YZC) were the only other NYSE-HKEX cross listed companies that advanced in Hong Kong on Wednesday. The Dow Jones Industrial Average (INDEXDJX:.DJI) fell hard on Tuesday with all but three of its components ending the day in the red. But index futures point to a higher open as markets have started to calm down.

pre_2011223

Components of key Chinese ETFs were mixed in Asia on Wednesday morning.Stocks that fell outnumbered those that advanced two to one among 25 members of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI). This large cap poxy suggests outlook is dim for large cap Chinese ADRs on Wednesday. But considering that China Southern Airlines (NYSE:ZNH) advanced while China Mobile (NYSE:CHL), Huaneng Power (NYSE:HNP) and Yanzhou Coal (NYSE:YZC) managed to eke out some gains for the day, not all large cap Chinese ADRs are doomed before the open.

Outlook is darkest for Aluminum Corp. of China (NYSE:ACH), Petrochina Co. Ltd. (NYSE:PTR) and China Eastern Airlines (NYSE:CEA), if components of the Hang Seng Index (IN DEXHANGSENG:.HSI) can serve as proxy for ADR trading.

pre_2011223_ETF

Small caps were mixed in Asia this morning as components of the Guggenheim Small Cap China ETF (NYSE:HAO) testify. Small cap stocks that fell outnumbered those that advanced two to one in key Asian markets.

Earnings will contionue to drive Chinese ADRs for the rest of the week. Chinese solar maker Trina Solar (NYSE:TAL) advanced on Tuesday despite the heacy sell-off, as earnings beat estimates. But JA Solar Holdings (NASDAQ:JASO) fell as investors dismayed latest numbers.

NetEase.com Inc. (NASDAQ:NTES) is going to release Q4 numbers after the close on Wednesday.



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