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 stock go sideways after strong GDP growth

E-mail Print PDF

bubble_1 April 15, 2011 (Chinavestor) Chinese shares traded sideways in Asia on Friday. The Shanghai Composite Index (SHA:000001) eked out a small, 8.2 points or 0.3% gain, after economic data suggested more fiscal tightening is on the way. First quarter GDP growth for China reached 9.8% while inflation accelerated, prompting investors to speculate that the government will introduce additional measures to cool growth. Some fear that an inflation bubble is building despite efforts from the government to reign it. Investors in Hong Kong kept one eye on the Mainland and the other in the U.S. where Google's first quarter profit disappointed as costs grew faster than expected. The Hang Seng Index (INDEXHANGSENG:.HSI) shed 5.9 points or 0.0% on Friday.

The rally seems to be over for Chinese internet stocks following Google's quarterly report. Chinese agriculture stocks fell hard on Thursday. AgFeed Industries, Inc., (NASDAQ:FEED) was the worst performing Chinese ADR falling to a new 52 week low but China Green Agriculture (NYSE:CGA), and Zhongpin Inc. (NASDAQ:HOGS) experienced heavy sell-off as well.

 

pre_2011415

Chinese airliners advanced the most among components of the Hang Seng Index (INDEXHANGSENG:.HSI). Volatility remains high for the sector following wild swings in the price of oil. But iron and steel producers fell hard on Friday in Hong Kong as output exceeded demand, hurting prices of the material. Record high iron ore prices are additional headache for Chinese steel makers, squeezing their profits.

pre_2011415_etf

Looking at components of key Chinese ETFS, outlook is uncertain on Friday morning. Stocks that advanced outnumbered those that fell two to one among 25 members of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI). While this is boding well for large caps, index futures point to a lower open on the NYSE.

Negative market sentiment may continue to hurt Chinese food stocks such as AgFeed Industries, Inc., (NASDAQ:FEED) and China Green Agriculture (NYSE:CGA). Zhongpin Inc. (NASDAQ:HOGS) and Tianli Agritech (NASDAQ:OINK) fell for most of the week and remain under pressure before the opening bell on Friday.



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