Components of key Chinese ETFs traded mixed in Asia with a negative bias. Airliners, telecoms rose but overbought China Mobile (HKG:0941) fell hard. Most components of the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) fell along with the Guggenheim Small Cap China ETF (NYSE:HAO).
Small cap Chinese ADRs remained volatile last Friday amid the weakness of the Dow. Oversold Vimicro Int. (NASDAQ:VIMC) popped while China Automotive Systems (NASDAQ:CAAS) rose over 10% for the second day. But recently IPOd Quihoo 360 Technology (NYSE:QIHU) fell 9.8% along with RenRen (NYSE:RENN) and E Commerce China Dangdang Inc (NYSE:DANG) highlighting the loss of confidence into the profitability of the Chinese internet sector.