DAILY FIX
Hong Kong Blue Chips: +723, +4.2%, to 18,131, 09-27-11, Hang Seng Index
Chinese Stocks in Hong Kong: +559, +6.4% to 9,292, 09-27-11, HSCE Index
Shanghai Stocks: +0.9%, 2,415, 09-27-11, Shanghai Composite Index.
Chinese Stocks in the U.S.: +2.6 to 361.3, 09-26-11, Bank of New York Mellon, ADR Index-China
Insight: News that European authorities are devising a plan to shore up big banks threatened be the region's debt crisis helped ignite a strong rebound in the substantially oversold Hong Kong market. Ping An Insurance (OTC PNGAY;2318 in Hong Kong) rose 10.1% after the company said its capital status was healthy. Chinese banks made strong gains: CMB (OTC CIHKY; 3968) +10.4%. KGI Research
Quotable: "HK market rebounded from trough at 16,999 (on Monday), showing investors believed that this level will be a strong support." Core Pacific Yamaichi. 9-26-2011
Chinese Company to Watch: "We believe the market’s general view of Shanghai Electric ((SE) as a power equipment manufacturer underestimates the company’s true value. With leading positions in multiple businesses (around 30%, 50% and 15% shares of China’s thermal, nuclear island and elevator markets), SE’s diversification places it at an unique position as a conglomerate to benefit from a number of growth opportunities while mitigating risks relating to temporary glitches in the new energy segment." Haitong Securities. 9-27-2011
Brokerages and analysts cited have disclaimers on their websites emphasizing their statements are for information only. They do not endorse my blog, and I don't endorse them.
For a list of Chinese companies sold in the U.S. and information on each company go to http://www.adrbnymellon.com/dr_country_profile.jsp?country=CN
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