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 shares surge in Asia on jobs report in early March

E-mail Print PDF

advance_11 March 4, 2011 (Chinavestor) Chinese shares advanced in Asia on Friday on the back of strong U.S. jobs report. The Hang Seng Index (INDEXHANGSENG:.HSI)  jumped 286.4 points or 1.2% while the Shanghai Composite Index (SHA:000001) surged 39.2 points or 1.3%.

The advance was universal among components of the Hang Seng Index (INDEXHANGSENG:.HSI). Stocks that advanced outnumbered those that fell four to one in Hong Kong. Large caps took the lead in the city state where each and every component of the Xinhua 25 Index advanced. This bodes well for the iShares FTSE/Xinhua 25 China Fund (NYSE:FXI), the most frequently traded Chinese ETF. Small caps enjoyed the return of the bulls in Asia as well, raising the hopes for the Guggenheim Small Cap China ETF (NYSE:HAO) on Friday morning.

But this was nothing compared to the Mainland. All but one stock out of the 50 largest components of the Shanghai Composite Index (SHA:000001) advanced. 

Iron, aluminum and other resource plays advanced the most in Asia following a heavy sell-off earlier the week. Zijin Mining (SHA:601899), China's largest gold miner, retreated after a three day surge earlier the week. But Aluminum Corp. of China (SHA:601600), China's largest aluminum maker surged 3.4% while Heilongjiang Agriculture Company Limited (SHA:600598) rose 3.75%. Maashan Iron & Steel (HKG:0323), the second largest Chinese steel maker, was the best performing component of the Hang Seng Index (INDEXHANGSENG:.HSI)  on Friday.

pre_201134

Chinese ETFs surged more than the DJIA did on Thursday as oversold Chinese stocks bounced back. Small cap China Marine Food (AMEX:CMFO), a Chinese snack food producer, surged 28.9% on strong earnings. Oversold China Cast Education (NASDAQ:CAST) jumped 9.7% but overbought Shanda Games (NASDAQ:GAME) gave some of its gains back from the day before. China's second largest online game developer and operator surged 18.8% on Wednesday following earnings announcement.

pre_201134_etf

If trading in Asia can serve as prioxy outlook for Chinese ETFs is sound on Friday morning. Considering the broad rally among components of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI), outlook for this liquid ETF is bright. Earnings will continue to drive Chinese ADRs and the PowerShares Golden Dragon Halter USX China (NYSE:PGJ). Small caps are more susceptible to bad news putting a lid on the Guggenheim Small Cap China ETF (NYSE:HAO)on Friday, but should jobs report came out strong, small caps are expected to be the winners of the day.



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