
Raising inflation put pressure on stock prices in Shanghai in the second part of the week. The Shanghai Composite Index (SHA:000001) fell -37.87 points or -1.24% on Friday as investors sold off property and financial stocks. But insurers advanced for the week, led by China Life Insurance (SHA:601628) following higher profit guidance for 2009. China Life Forecast Profit Growth of 200% in 2009. Shares of smaller rival Ping An Ins. (SHA:601318) rose +2.6% for the week. NYSE cross-listed China Petroleum & Chemical Corp. (SHA:600028), known as Sinopec (NYSE:SNP), advanced +2.4% for the week while index heavy weight Petrochina (SHA:601857) traded sideways.
With no direction from Asia, American listed China stocks are driven by U.S. market sentiment and earnings. UTStarcom (NASDAQ:UTSI) released numbers after the close on Thursday; Acorn International (NYSE:ATV) is going to report on Friday. Financial reports from the Chinese solar sector is almost complete after China Sunergy (NASDAQ:CSUN) released numbers on Thursday. China Sunergy back to a loss, tails sector. Expect China Southern Airlines (NYSE:ZNH) to fall back for two reasons. For one, the stock was overbought and for two, Hong Kong listed H-shares (HKG:1055) fell -2.3% on Friday.
Chinese indices have been trading in a narrow range, as the following chart testifies. The Hang Seng Index (INDEXHANGSENG:.HSI) is back to where it was a week ago. Chinese stocks are looking for a reason to advance - and in the meantime earnings dominate.
March 11, 2010 (Chinavestor) China stocks traded sideways in Asia on Thursday as economics data put pressure on markets. The Hang Seng Index (INDEXHANGSENG:.HSI) ended the day +19.91 points or +0.0...
March 10, 2010 (Chinavestor) The Hang Seng Index was virtually unchanged while the Shanghai Composite shed -.66% on Wednesday, highlighting the uncertain mood of investors in Asia on Wednesday. Chin...
March 9, 2010 (Chinavestor) Shares of Chinese companies traded in a narrow range in Hong Kong and in Shanghai on Tuesday. The Shanghai Composite (SHA:000001) advanced +15.91 points or +0.52% to...
March 8, 2010 (Chinavestor) Shares of Chinese companies pulled Hong Kong stock higher and advanced in Shanghai following a slew of positive developments. Chinese policy makers suggested a slow exit f...


