April 4, 2014 (Chinavestor) Stock markets ended the first week of April mixed just as US markets lacked direction. The Dow Jones Industrial Average (INDEXDJX:.DJI) was virtually unchanged on Thursday with a negative bias. Stocks in Tokyo and Hong Kong succumbed to profit taking before the weekend but listings advanced in Shanghai after a weak showing earlier the week. US listed Chinese stocks continue to feel a pressure as investors trim risky assets.
The Nikkei 225 and the Hang Seng Index (INDEXHANGSENG:.HSI) slipped on Friday but the Shanghai Composite Index (SHA:000001) rose 15.13 points or 0.74%. European key indices, from London to Frankfurt and Paris, advanced on Friday. US markets gave no direction to the rest of the world as the Dow dwindled and the NASDAQ fell on Thursday. Intel Corp. (NASDAQ:INTC) advanced 2.0%, by far the most among components of the 30 member index. Hewlett-Packard (NYSE:HPQ) fell 1.8% on Thursday, twice as much as second worst Dow component Alcoa Inc. (NYSE:AA).
Lack of direction was evident in Hong Kong on Friday. The Hang Seng Index (INDEXHANGSENG:.HSI) slipped 55.0 points or -0.24%. The decline was not universal, stocks that advanced were the same than those that fell. Sinotrans (HKG:0598) jumped 3.7%, followed by China Unicom (HKG:0762)(NYSE:CHU). CNOOC Ltd. (HKG:0883), China's offshore oil driller, advanced for the fourth day in a row making up for previous losses. The stock is still down 4.75% over a month. The company is cross listed on the NYSE under ticker symbol NYSE:CEO. Expect a jump at the open for this ticker. Another NYSE cross listed Hang Seng component, Guangshen Railways (HKG:0525) (NYSE:GSH), made it to the best five components of the index on Friday. Guangshen Rail advanced 1.5% in Hong Kong on Friday. Huadian Power (HKG:1071), China's largest hydro power generator, succumbed to profit taking and fell 4.8%. The stock is still up 20% for a month!
See key components of the following indices: DJIA, Hang Seng, China ADR Index.
While the Dow was mixed, Chinese listings on the NYSE and NASDAQ suffered on Thursday. The China ADR Index, compiled by Chinavestor, fell 8.5 points or 1.2%. NASDAQ listed Chinese stocks were primarily responsible for the decline. 51job Inc. (NASDAQ:JOBS) fell as much as $5.5 or 7.44% with heavy volume. SouFun Holdings (NYSE:SFUN) gave back $5.1 or 6.84%. SFUN has lost $23.99 or 25.6% since March 6, a month ago. Sohu.com Inc. (NASDAQ:SOHU) declined $3.1 just like Baidu Inc. (NASDAQ:BIDU) fell $3.0. Another internet portal, Sina Corp. (NASDAQ:SINA) slipped $2.4.
Ctrip.com International (NASDAQ:CTRP) remained a bright spot. CTRP rose $.7 or 1.36% on Thursday and is up 5 days in a row. Large cap China Mobile (NYSE:CHL), CNOOC Ltd. (NYSE:CEO) and China Telecom (NYSE:CHA) all advanced on Thursday.
See most volatile NYSE and NASDAQ listed Chinese stocks on April 3, 2014, Thursday.