DAILY FIX
Hong Kong Blue Chips: +535, +3.1%, to 17,707, 10-07-11, Hang Seng Index
Chinese Stocks in Hong Kong: +316, +3.7% to 8,888, 10-07-11, HSCE Index
Shanghai Stocks: Closed for holiday 2,359, 10-07-11, Shanghai Composite Index.
Chinese Stocks in the U.S.: +8.3 to 361.0, 10-06-11, Bank of New York Mellon, ADR Index-China
Insight: Hong Kong rallied in tandem with U.S. and European markets as fears subsided, at least temporarily, concerning European debt and the U.S. economy. Major China port operator Hutchison Whampoa (PINK HUWHY; 0013 in Hong Kong) jumped 10.5% after reporting that its stock price was at a discount of nearly 50% to its net asset value. KGI Research
Quotable: "We expect the improved sentiment would last for a while longer." BOCOM International. 10-7-11
Chinese Company to Watch: Alibaba, e-commerce provider (OTC ALBY; 1688) "If the Company succeeds in acquiring Yahoo!, the scope and scale of the Company’s business will further expand. Alibaba’s current share price is relatively attractive, we believe that the acquisition rumor will serve as a catalyst for its stock price and therefore advise a bargain hunt for Alibaba." CFSG. 10-6-11
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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