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

Chinese stocks late February bounce

E-mail Print PDF

advance_8 February 27, 2014 (Chinavestor) Chinese stocks advanced more than the general market on Wednesday after weeks of poor showing. Most US listed Chinese stocks advanced in a surprise move to many investors. Sinopec (NYSE:SNP) led energy stocks higher while industry behemoth Baidu Inc. (NASDAQ:BIDU) lifted the rest of the technology sector. SouFun Holdings (NYSE:SFUN), Ctrip.com Int. (NASDAQ:CTRP), Sina Corp. (NASDAQ:SINA), Sohu.com (NASDAQ:SOHU), and NetEase Inc. (NASDAQ:NTES) all advanced. Transportation stocks continued to suffer though, China Southern Airlines (NYSE:ZNH) and China Eastern Airlines (NYSE:CEA) are now down 13.1% and 8.2% YTD. Aluminum Corp. of China (NYSE:ACH) is back at the $9 level hurting outlook for the rest of the sector.

The following chart sorts the biggest gainers and losers among US listed Chinese stocks and displays their market cap in bubbles. This is a great graphical representation to get a better understanding how Chinese stocks performed on Wednesday.

Sinopec (NYSE:SNP), China's largest oil refiner, bounced $2.78 after three days of steady declines. The rest of the oil industry followed. Petrochina Co. Ltd. (NYSE:PTR) rose $1.26 and CNOOC Ltd. (NYSE:CEO), China's offshore oil driller, advanced $1.51.

Baidu Inc. (NASDAQ:BIDU) rose before earnings release lifting the rest of the sector. BIDU is China's largest search engine company and is the barometer or trend setter for the rest of the industry. SouFun Holdings (NYSE:SFUN), a stock that has suffered the most in 2014 among tech stocks, rose $2.34. Sina Corp. (NASDAQ:SINA) bounced back $1.54 after a $7.1 drop a day before. Sohu.com Inc. (NASDAQ:SOHU) and NetEase Inc. (NASDAQ:NTES) advanced $1.22 and $1.20, each. NetEase Inc. (NASDAQ:NTES) lost 13.6% YTD as fundamentals weakened for the company. Finally, Ctrip.com International (NASDAQ:CTRP) advanced with the rests of the sector, climbing $2.16 or 4.32%.

mover_20140226

Despite a favorable market sentiment among Chinese listings, 51job Inc. (NASDAQ:JOBS) suffered. The stock fell from $85 to $75 in five trading days following earnings report. JOBS' decline was the most by far, according to the chart above. China Southern Airlines (NYSE:ZNH) fell $.28 while China Eastern Airlines (NYSE:CEA) advanced $.09. Chinese airliners have experienced a bumpy ride is 2014 so far. January was tough but the first two weeks of February provided much needed relief. However the third week and the rest proved to be tough again for airliners. Aluminum Corp. of China (NYSE:ACH), China's largest aluminum maker, fell $.05 while Yanzhou Coal Mining (NYSE:YZC) shed $.13.

Outlook is promising for NYSE and NASDAQ Chinese listings. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 190.74 points or 1.74% and the Shanghai Composite Index (SHA:000001) advanced 6.1 points or 0.30%.

World Indices, February 27, 2014 @ 7:00 A.M. EST

world_20140227



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