March 31, 2014 (Chinavestor) World markets are mixed Monday morning with a positive bias. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 85.5 points or 0.4% but the Shanghai Composite Index (SHA:000001) fell 8.41 points or 0.41%. The Nikkei 225 and most European markets are trading higher as we speak.
The Dow Jones Industrial Average (INDEXDJX:.DJI) advanced 58.9 points or 0.4% last Friday in a broad rally. The advance itself was not that spectacular but it is important to note that all but five component of the 30 member index advanced. Microsoft (NASDAQ:MSFT) rose 2.4%, the most among components of the index. Alcoa Corp. (NYSE:AA) fell -0.9% at the same time.
Chinese stocks were mixed in Asia. Mainland's major index, the Shanghai Composite, fell and the Hang Seng was mixed.Power companies advanced the most, lifting the overall index. Huaneng Power (HKG:0902) (NYSE:HNP), a NYSE cross listed power generator, rose 1.6% on Monday and is up 5.9% for March. Huadian Power (HKG:1071) advanced 2.7% at the same time. Brilliance China Auto (HKG:1141), BMW's Chinese partner, surged 6.3% followed by Warren Buffet backed BYD Company (HKG:1211).
US Listed Chinese stocks advanced for the second day in a row last Friday. The China ADR Index, calculated by Chinavestor, rose 5.8 points or 0.9%. NetEase Inc. (NASDAQ:NTES) advanced $3.1, the most among major NYSE and NASDAQ listed Chinese stocks. CNOOC Ltd. (NYSE:CEO) succumbed to profit taking though and fell $5.4.
The following chart displays the most volatile Chinese ADRs from last Friday. NetEase Inc. (NASDAQ:NTES) and SouFun Holdings (NYSE:SFUN) rose the most by far. SouFun Holdings (NYSE:SFUN) made a comeback after steep losses earlier the month. Friday's advance is really just a bounce back up.
CNOOC Ltd. (NYSE:CEO) fell $5.4, by far the most among major NYSE listed Chinese stocks. Sinopec Shanghai Petrochemical (NYSE:SHI), a major polyethylene producer, declined $2.2. All other Chinese stocks fell less than a buck last Friday.
Internet darling Baidu Inc. (NASDAQ:BIDU) and Sina Corp. (NASDAQ:SINA) were among the top ten losers last Friday.