May 28, 2014 (Chinavestor) Chinese stocks were mixed on Tuesday. 58.com Inc. (NYSE:WUBA) advanced the most among major Chinese ADRs on the first day of trading after the long Memorial Day weekend. The unusual advance is a result of two days of steep declines though. The stock is back at the $40 range but still 5% away from $42, a price it touched twice last week. Notable movers include Baidu Inc. (NASDAQ:BIDU) to the upside and large cap energy stocks like SNP and Petrochina (PTR) to the downside.
The first part of the chart shows the best Chinese ADRs for the day, Tuesday. WUBA, BIDU and Home Inns & Hotels Management (NASDAQ:HMIN) did exceptionally good. All other Chinese stocks followed these three from a distance.
The second part of the chart displays the weakest Chinese stocks of the day. Sinopec (NYSE:SNP) and Petrochina (NYSE:PTR) suffered as investors rotated from safer stocks to technology names. Sina Corp. (NASDAQ:SINA) is still suffering following disappointing quarterly results last week.
See chart for details.