April 17, 2014 (Chinavestor) Economic data, FED's assessment of the situation and corporate earnings continue to drive stocks higher. The Dow Jones Industrial Average (INDEXDJX:.DJI) advanced 162.3 points or 1.0% on Wednesday. The advance was not only the third in a row but was universal. Stocks that advanced outnumbered those that fell eight to one among components of the 30 member index.
The Hang Seng Index (INDEXHANGSENG:.HSI) closed higher by as much as 64.2 points or 0.3%. Xinxin Mining (HKG:3833) jumped the max allowed 10%, by far the best component of the 50 member index. Huadian Power (HKG:1071), TravelSky tech (HKG:0696) and China Telecom (HKG:0728) (NYSE:CHA) all advanced over 3% on Thursday. But Chinese shipping companies fell. China Cosco (HKG:1919), China Shipping Development (HKG:1138) and CSCL (HKG:2866) all were among the five worst components of the Hang Seng Index today.
US listed Chinese stocks enjoyed a ride along market sentiment as well. The China ADR Index, calculated by Chinavestor, rose 6.7 points or 1.0% as large cap energy stocks lifted the index.
China's oil triumvirate all advanced on Wednesday. Petrochina Co .Ltd. (NYSE:PTR), CNOOC Ltd. (NYSE:CEO) and Sinopec (NYSE:SNP) rose $2.0, $1.2, and $1.1, respectively.
Industry heavy weight Baidu Inc. (NASDAQ:BIDU) surged $1.8, lifting the rest of the technology sector. Ctrip.com Intl. (NASDAQ:CTRP), SouFun Holdings (NYSE:SFUN) and 51job Inc. (NASDAQ:JOBS) all made it to the best ten Chinese ADRs of the day. See chart below for assessing the best and worst Chinese stocks on Wednesday. Size of bubble indicates market cap.
Not every China stock joined the party. 500.com Ltd. (NYSE:WBAI) slipped $.21 or -0.59%, a small token compared to previous losses. The decline among Chinese names were dismal as the chart above testifies.