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 stocks soar in HK, Oct. 13

E-mail Print PDF

advance_11 October 13, 2011 (Chinavestor) Value investors snapped up oversold China stocks in Hong Kong, sending the Hang Seng Index (INDEXHANGSENG:.HSI) 428.3 points or 2.3% higher on Thursday. The Hang Seng China Enterprises Index (INDEXHANGSENG:.HSCEI), measuring the performance of mainland Chinese stocks listed in HK, surged 3.67%. The rally was extraordinary among components of the Xinhua China 25 Index, the underlying index for the iShares FTSE/Xinhua China 25 Index (NYSE:FXI), as well. But investors remained more cautious on the mainland, where the Shanghai Composite Index (SHA:000001) rose 18.8 points or 0.8%, one third that of stocks in Hong Kong.

Chinese investors remained bullish despite export/import statistics showing that China's export engine has lowed. Export growth fell to 17.7% YoY in September, less than expected. The European Union, China's largest trading partner, is responsible for most of the slow down. Import also slowed, resulting in a $14.5 billion trade surplus, the smallest since May. But investors took these numbers as a sign that Beijing may refrain from raising interest rates, a welcome news for the Shanghai Composite Index (SHA:000001).

Investors in Hong Kong followed U.S. markets higher from Wednesday. The DJIA turned to positive territory for 2011 in the afternoon, lifting investor sentiment in the most western looking Chinese market in Asia. Chinese airliners took a break after a week of strong comeback. Iron and steel works, some of the hardest hit sectors in September, made a remarkable recovery. Maanshan Iron (HKG:0323) surged as much as 25.5%, the most among components of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI).

China Cosco (HKG:1919), China's largest container shipping company, surged 17.7%, the most among components of the iShares FTSE/Xinhua China 25 Index (NYSE:FXI). Shipping companies made a remarkable comabeack on Wednesday and Thursaday after hitting 52 week lows earlier in October. The sector lost 70% of its value earlier the year!

pre_20111013



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