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 lack direction Nov. 11

E-mail Print PDF

buy_sell_hold_icon November 11, 2011 (Chinavestor) China stocks ended the week on a cautious tone after Italy passed latest austerity measures on Friday. Outlook in Europe improved although the crisis is not over yet. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced 173.3 points or 0.9% for the day but is deeply in the red after a 1050 points plunge on Wednesday. Stocks were missing direction on the mainland as well, where the Shanghai Composite Index (SHA:000001) eked out a small 1.5 points or 0.1% gain. China's inflation and real estate prices eased, but manufacturing and consumer demand slacked. October car sales were declined the most month-to-month in three years as government incentives expired. But most Chinese stocks advanced for the Hang Seng China Enterprises Index (INDEXHANGSENG:.HSCEI) outperformed the broad index. This, along with strong DJIA index futures, bode well for the most liquid Chinese ETF the iShares FTSE/Xinhua China 25 Index (NYSE:FXI).

Sinopec (HKG:0386), Asia's largest refiner, rose 3.4% after it announced a 30% acquisition of Galp Energia's Brazilian unit for $5.18 billion. That includes assuming previous loans and subscription to new shares. Galp's Brazilian unit hold s a 10% stake in Tupi field, the largest oil discovery in the Americas since Mexico's Cantarell Field hit in 1978.

Rising oil prices helped lift other major oil companies. CNOOC Ltd. (HKG:0338) advanced 3.5% while Petrochina Co. ltd. (HKG:0857) rose 2.16%. But high oil prices hurt airliners in particular. Air China (HKG:0753) fell 2.9%, the second most among components of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI).

China Life Insurance (HKG:2628) continued to succumb to profit taking and fell 2.1% on Friday. The stock was overbought to the extremes earlier the week.

But most mainland China stocks advanced as components of the Xinhua 25 China Index testify, boding well for the iShares FTSE/Xinhua China 25 Index (NYSE:FXI).

pre_20111111



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