China Stocks: April Was Kind
April has turned out to be a pretty good month for equity investors. After all three major indices dropped to 52-week low in early March, stocks rebounded last month after financial firms indicated that the worst part of the current crisis may be over. The Dow ended April with a gain of 4.54%, the S&P added 4.75%, and the NASDAQ climbed 5.87%.
Chinese stocks traded on U.S. exchanges also had a solid month in April, rising along with U.S. stocks. Chinese ADRs also got support from favorable policies adopted by Chinese security regulators aimed to stabilize the market after the Shanghai Composite Index (^SSEC) lost half of its value in less than half a year. For the month, SSEC jumped 6.35% and the Hong Kong’s Hang Seng Index (^HSI) surged 12.72%. Among Chinese ADRs, VanceInfo Technologies (VIT) led the way with a gain of 142.60%, followed by Sohu.com (SOHU)’s 53.18%. Chinese search engine Baidu.com (BIDU) also recorded a 52.57% gain in share price. The month’s biggest loser was Agria (GRO), China’s agriculture products, such as seeds and feeding products, provider, which saw its share tumbled nearly 50%, despite record food price.
| Name | Symbol | 04/30/08 Price | April return | YTD return |
| 3SBio | SSRX | 10.45 | 19.57% | -29.77% |
| 51Job | JOBS | 18.4 | 13.23% | 2.11% |
| Acorn international | ATV | 6.86 | -9.97% | -26.47% |
| Actions Semiconductor | ACTS | 3.86 | 29.98% | -5.39% |
| Agria | GRO | 4.33 | -48.14% | -53.59% |
| AirMedia Group | AMCN | 19.86 | 24.91% | -11.26% |
| Aluminum Corp of China | ACH | 42.82 | 5.91% | -15.44% |
| APT Satellite | ATS | 1.53 | -0.65% | -28.84% |
| ASAT Holdings | ASTT | 0.00% | 0.00% | |
| ATA* | ATAI | 10.67 | 20.43% | 12.32% |
| Baidu.com | BIDU | 365.6 | 52.57% | -6.21% |
| China Architectural Engineering | RCH | 5.45 | 0.00% | -36.99% |
| China Digital TV | STV | 16.8625 | -9.97% | -37.50% |
| China Eastern Airlines | CEA | 43.39 | -15.58% | -55.57% |
| China Finance Online | JRJC | 18.45 | 32.73% | -16.14% |
| China Grentech | GRRF | 4.72 | -7.81% | -46.61% |
| China Life Insurance | LFC | 65.6 | 26.01% | -14.25% |
| China Medical Tech | CMED | 37.4 | -8.98% | -15.75% |
| China Mobile | CHL | 86.32 | 15.08% | -0.63% |
| China Nepstar | NPD | 11.77 | -13.46% | -33.05% |
| China Petro & Chemical | SNP | 107.51 | 25.04% | -27.46% |
| China Southern Airlines | ZNH | 32.84 | -17.18% | -49.82% |
| China Sunergy | CSUN | 8.22 | 12.60% | -50.24% |
| China Techfaith | CNTF | 5.46 | -0.36% | -5.86% |
| China Telecom | CHA | 67.59 | 7.58% | -13.42% |
| China Netcom | CN | 61.05 | 5.28% | 2.78% |
| China Unicom | CHU | 21.57 | 1.41% | -3.71% |
| ChinaEdu | CEDU | 7 | 5.58% | -17.65% |
| City Telecom (HK) | CTEL | 4.51 | 0.67% | -20.18% |
| CNinsure | CISG | 14.05 | 21.86% | -12.13% |
| CNOOC | CEO | 177.55 | 20.96% | 6.04% |
| Ctrip.com | CTRP | 62.06 | 17.05% | 7.99% |
| E-House | EJ | 16.72 | 27.15% | -29.84% |
| eLong | LONG | 9.37 | 9.85% | 13.16% |
| Focus Media | FMCN | 36.89 | 4.95% | -35.06% |
| Fuqi International | FUQI | 8.25 | 15.71% | -0.60% |
| Giant Interactive | GA | 16.28 | 28.70% | 25.42% |
| Global Sources | GSOL | 13.89 | -6.46% | -50.83% |
| Guangshen Railway | GSH | 28.88 | 9.81% | -18.97% |
| Gushan Environmental Energy | GU | 12.5 | -4.36% | 33.69% |
| Home Inns & Hotel | HMIN | 22.41 | 13.81% | -37.09% |
| Huaneng Power | HNP | 33.65 | 10.18% | -18.52% |
| Hurray! | HRAY | 2.77 | 0.36% | -30.40% |
| Hutchison Telecomm | HTX | 21.05 | -2.14% | -7.06% |
| JA Solar | JASO | 24.01 | 29.09% | 3.18% |
| Kongzhong | KONG | 4.23 | -2.31% | -30.54% |
| Las Vegas Sands | LVS | 76.22 | 3.50% | -26.04% |
| LDK Solar | LDK | 31.74 | 17.56% | -32.48% |
| Linktone | LTON | 2.15 | -20.37% | -30.42% |
| Longtop Financial Tech. | LFT | 19.95 | 5.67% | -15.75% |
| Melco PBL Entertainment | MPEL | 13.2 | 15.99% | 14.19% |
| Mindray Medical | MR | 34 | 17.48% | -20.88% |
| Netease.com | NTES | 22.32 | 16.19% | 17.72% |
| New Oriental Education | EDU | 75.06 | 15.73% | -6.86% |
| Ninetowns inter | NINE | 2.23 | -4.70% | -30.09% |
| Noah Education* | NED | 6.161 | 10.81% | -23.56% |
| O2Micro International | OIIM | 7.52 | -2.72% | -34.84% |
| Perfect World | PWRD | 28.72 | 26.46% | 3.01% |
| PetroChina | PTR | 151.14 | 20.61% | -13.87% |
| QiaoXing Mobile Comm. | QXM | 6.43 | 6.99% | -23.91% |
| Renesola* | SOL | 16.75 | 47.45% | 28.85% |
| Semiconductor Manufacturing | SMI | 3.81 | 8.55% | -26.59% |
| Shanda Interactive | SNDA | 34.29 | 17.84% | 3.03% |
| Simcere Pharmaceutical | SCR | 12.59 | 20.36% | -9.10% |
| Sina | SINA | 46.2 | 31.06% | 4.29% |
| Sinopec | SHI | 39.55 | 13.03% | -35.23% |
| Sohu.com | SOHU | 69.13 | 53.18% | 26.80% |
| Solarfun Power | SOLF | 13.43 | 11.36% | -58.87% |
| Spreadtrum Communications | SPRD | 8.71 | 0.11% | -28.96% |
| Suntech Power | STP | 44.73 | 10.28% | -45.66% |
| The9 | NCTY | 21.47 | 4.73% | 0.19% |
| Tongjitang Chinese Medicine | TCM | 8.2 | -0.24% | -16.75% |
| Trina Solar | TSL | 42.18 | 37.22% | -21.60% |
| UTstarcom | UTSI | 3.25 | 14.44% | 18.61% |
| VanceInfo Technologies | VIT | 14.75 | 142.60% | 63.89% |
| Vimicro International | VIMC | 3.39 | 23.29% | -9.84% |
| VisionChina Media | VISN | 14.75 | 33.12% | 73.53% |
| WSP Holdings | WH | 6.62 | -4.06% | -27.25% |
| Wuxi Pharmatech | WX | 18.44 | -17.53% | -36.94% |
| XinHua Finance Media | XFML | 4.15 | 31.33% | -30.83% |
| Xinyuan Real Estate | XIN | 9.03 | 7.63% | -36.54% |
| Yazhou Coal Mining | YZC | 92.68 | 30.48% | -4.51% |
| Yingli Green Energy | YGE | 22.03 | 28.83% | -43.02% |
*2008 IPO
For the month, two widely held EFTs that mainly invest in China also rose sharply. iShares FTSE/Xinhua China 25 Index (FXI) gained 17.50% in April while PowerShares Gloden Dragon Halter USX China (PGJ) climbed 15.55%.
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This article has 9 comments:
- globalmacro
- 119 Comments
May 05 03:33 PM- Armagedon
- 12 Comments
May 05 05:59 PM- theoilyboy
- 16 Comments
May 05 08:26 PMI appreciate your comments but I have a few questions
-if the US and Europe are in recession, won't that free up FDI to go where there is growth, ie China?
- 20% exports can easily be sucked up into domestic China or re-routed to other growing Asian economies. This might also have the effect of reducing domestic Chinese inflation as well
-The US economy is growing at <1% and companies are still growing. Good companies are growing at significantly better than 10%. China's economy is is growing at >10%, what type of growth rate would you expect is reasonable for Chinese companies serving a domestic China consumer (BIDU, SOHU, LFC, COGO, CTRP, CHL, FMCN, EDU, etc)?
- Infinity is a very long time, but can't good companies grow at 10% for a very long time? Or could they at least grow long enough to make good investments for long term investors not to mention short term traders?
- If safety is your objective, go to TIPS
I am not trying to be flippant, but where else can you find compelling growth opportunities in real companies serving a strong growth environment?
- User 107925
- 4 Comments
May 06 08:31 AMShanghai Composite Index (^SSEC) lost half of its value in less than half a year. For the month, SSEC jumped 6.35% and the Hong Kong’s Hang Seng Index (^HSI) surged 12.72%. Among Chinese ADRs, VanceInfo Technologies (VIT) led the way with a gain of 142.60% ... go BIDU... I'm long.
...........
I'm relatively new at this but VIT on 3/31/08 closed @ $6.80 and 4/30/08 closed @ $8.55. If we're using stock price to determine *value* woud that be 15.8% increase for April.
- huangjin
- 266 Comments
May 06 08:56 AMwww.latimes.com/news/n...
- User 107925
- 4 Comments
May 06 12:29 PM- globalmacro
- 119 Comments
May 06 01:01 PM- Coffeygrinds
- 5 Comments
My Website
May 12 12:59 PMWe are seeiing activity in Sina Corp as you know less known internet related company than the GOOG, YHOO, BIDU and others, but raises attention every few months. The Market cap is well below those big 3, but like NTES and SOHU, does maintain near a $3 Billion market cap with the growing backdrop of China in the horizon.
Earnings are expected Wednesday and the stock has already run into the early section of this slower Monday morning. The stock has spiked 7%, our HeatSeeker has been lighting up with the increased market action of buyers positioning in the SINA May 55 calls paying $.75 and $.80. Those large institutional buyers have sparked some retail follow up buyers, paying increased prices. This jump in the price of the stock and the options has us looking for a pullback and an opportunity to consider if the institutional buyers will return….
your thoughts on this action?
- User 37105
- 1 Comment
May 13 04:38 PMchinabizfocus.com/modu...