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 surge on sound PMI data

E-mail Print PDF

economy_1 October 24, 2011 (Chinavestor) Chinese stocks opened last week of October with some gusto after China's PMI, the index measuring manufacturing activity, showed growth for the first time in four month. The Hang Seng Index (INDEXHANGSENG:.HSI) surged 746.1 points or 4.0% while the Shanghai Composite Index (SHA:000001) rose 53.1 points or 2.2%. The rally was universal, stocks that advanced outnumbered those that fell fourteen to one among components of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI). Even better, each and every component of the Xinhua 25 Index rose, boding well for the iShares FTSE/Xinhua China 25 Index (NYSE:FXI), the most liquid Chinese ETF. Resource, shipping and coal sectors, those that fell the hardest earlier the month, led the rally. The advance in Shanghai came at a time when the index hit fresh 13 months lows. Investors on the mainland are concerned about additional monetary tightening when inflation is the top priority of policy makers. But the market couldn't ignore sound manufacturing data. The rally was universal among large caps, each and every stock of the 50 largest components of the Shanghai Composite Index (SHA:000001) advanced. Oversold insurance and securities companies led the advance after a heavy sell-off in October sent their shares to year lows. China Pacific Insurance (SHA:601601) and Ping an Insurance (SHA:601318) surged 4.8% and 5.3%, each.

Looking at components of the iShares FTSE/Xinhua China 25 Index (NYSE:FXI), Aluminum Corp. of China (HKG:2600) and Yanzhou Coal (HKG:1171) were among the best NYSE cross listed stocks, besides airliners. China Eastern Airlines (HKG:0670) surged 7.25% while China Southern Airlines (HKG:1055) advanced 5.5%.

If components of the Hang Seng Index (INDEXHANGSENG:.HSI) were proxy for ADR trading, outlook is best for airliners, resource and energy stocks. Telecom stocks, providers of cushion during bear markets, were trailing the broad index.

pre_20111024



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