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

Record oil lifts Chinese stocks in Asia

E-mail Print PDF

oil_3 April 21, 2011 (Chinavestor) Strong U.S. earnings sent China stocks higher in Asia on Thursday. The Hang Seng Index (INDEXHANGSENG:.HSI) jumped 242.2 points or 1.0% on top of the 375 points advance the day before as tech earnings in the U.S. surprised to the upside. Investor sentiment improved in Shanghai as well, sending the Shanghai Composite Index (SHA:000001) 20.2 points or 0.7% higher for the day. Most of the gains were attributed to energy stocks, a sector that is driven by record oil prices. Price of the crude hit $112/barrel driven by anticipated strong U.S. demand.

Petrochina Co. Ltd. (HKG:0857)(SHA:601857) advanced 1.9% in Hong Kong and 0.5% in Shanghai while CNOOC Ltd. (NYSE:0883) surged 2.2%. Chinese coal miners caught fire given the price of the commodity is tied to that of oil in China. China Shenhua (HKG:1088), the largest Chinese coal miner, surged 3.8% while Yanzhou Coal (HKG:1171)(NYSE:YZC) rose 2.6%.

The rally was universal on the Mainland where stocks that advanced outnumbered those that fell five to one among components of the Shanghai Composite Index (SHA:000001).

pre_2011421

But while high oil prices buoyed the energy sector, airliners and power generators fell. Price of kerosene hit a record high in Singapore, squeezing Chinese airliners' profits. Both China Eastern Airlines (HKG:0670) and Air China (HKG:0753) were among the bottom five components of the Hang Seng Index (INDEXHANGSENG:.HSI).

Chinese ETFs did well on Wednesday and are poised to do the same on Thursday, if trading in Asia can serve as proxy. Most components of the Xinhua 25 Index, the underlying index of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI), advanced in Hong Kong. Small caps experienced a broad rally as well, stocks that advanced outnumbered those that fell four to one among components of the Guggenheim Small Cap China Fund (NYSE:HAO).

pre_2011421_ETF

China Unicom (NYSE:CHU) was among the best performing Chinese stocks on Wednesday and contionued to advance in Asia on Thursday. Chines solar stocks are expected to join the rally as oil prices hit record highs.

If components of the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as proxy for large cap China ADR trading, outlook is best for China Unicom (NYSE:CHU), CNOOC Ltd. (NYSE:CEO) and Yanzhou Coal Mining (NYSE:YZC).



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