DAILY FIX
Hong Kong Blue Chips: +4, +0.02%, to 17,711, 10-10-11, Hang Seng Index
Chinese Stocks in Hong Kong: -18, -0.2% to 8,870, 10-10-11, HSCE Index
Shanghai Stocks: -0.6%, 2,345, 10-10-11, Shanghai Composite Index.
Chinese Stocks in the U.S.: -10.8,to 350.3, 10-07-11, Bank of New York Mellon, ADR Index-China
Insight: China stocks opened higher in Hong Kong due to optimism Europe would recapitize its struggling banks, but a drop on Mainland markets cut into gains. Reduced turnover included heavy trading in warrants, which reflects strong speculative interest. The Chinese government investment arm, Huijin, bought A shares in the four major Chinese banks,leading to a late rebound for these banks in Hong Kong.BOC (HK) (PINK BHKLY) rose 2.1%. The parent company's ADR code is BACHY. KGI Research
Quotable: "All in all, Hong Kong stock market may be choppy next week, and the HSI may test 18,000 points with its support level likely residing at 16,500 points." BEA Securities. 10-7-11
Chinese Company to Watch: YANZHOU COAL (YZC;1171) "Thanks to further acquisition concept, we expect overseas business to account for near 30% of FY12 earnings. Prospective P/E of 7x." KGI Asia. 10-7-11
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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