China Spy: Liquidity is Back, Youku Has a Partner (EFUT, ISS, CAAS, ZX, YOKU, ZNH, SVN, HSOL, SOL, NQ)
The Hang Seng Index performed well over the past week gaining over 1%. China decided it would be best to inject liquidity into the system after previous measures caused commercial banks to experience a credit crunch.
Top tickerspy China Indexes:
Chinese IT Stocks has risen 11.1% over the last week. Shares of e-Future Information (EFUT) can take some credit for the impressive performance. The stock rose by as much as 40% on Tuesday, June 28 after the company released its annual report. Over the last five days the stock has increased by 13%. iSoftStone Holdings (ISS) also helped the Index with an impressive gain. The stock received numerous comments from analysts over the last week.
Chinese Auto Parts Stocks are up 7.9% over the last week. The Index was helped by shares of China Automotive Systems (CAAS), which drove higher to the tune of over 29% during the last week. Also helping the Index last week were shares of China Zenix Auto (ZX), which saw a solid gain after Oppenheimer initiated the company with buy rating and $8 price target.
Chinese Internet Stocks have improved 6.9% over the last 5 trading days. Rocketing higher were shares of Youku.com (YOKU), which saw an increase of over 18%. The major announcement came when the company said it had entered into an agreement with Warner Bros. Shares of NetQin Mobile (NQ) quietly turned in the second best performance of the Index.
Chinese Travel Stocks gained 4.0% over the last week. Shares of China Southern Airlines (ZNH) led the Index higher, perhaps with oil trading lower traders viewed this as a cost reduction for airlines. 7 Days Group Holdings (SVN) also had an impressive week with a solid gain.
Chinese Solar Stocks have gained an impressive 0.6% over the last week. Hanwha SolarOne (HSOL) saw a double digit percentage gain over the last week after the Board of Directors announced Mr. Jung Pyo as the new CEO. Shares of ReneSola (SOL) also contributed a nice gain for the week.
A full listing of eleven Chinese Indexes and related charts and metrics are available at tickerspy.com.
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