Europe’s debt crisis is largely affecting the global recovery post recession. While on one side, US equities saw the biggest drop in a year, on the other hand, China stocks fell to an eight-month low on Friday. In fact, most experts are of the opinion that if the issue is not checked immediately, there is every possibility of an economic ripple effect.
The Shanghai Composite Index, which tracks the bigger of China’s exchanges dropped by 1.9%, the lowest close since Sept.1, capping a 6.4 % decline for the week. The fall can be largely attributed to property curbs and the European debt crisis hurting the exports and fixed asset investment. The debt crisis in Europe targeted US stocks, which led to a strong chance of a slide in Asian shares. Since Europe is China’s biggest export market, with one-fifth of nation’s sales going into its account, any adversities in the European market is bound to impact China stocks in a big way.
However, the stock market saw some stocks rising quite high despite the European debt crisis. China Automotive System (CAAS) was the top player. It gained around 8.44% by the end of the day, closing at $20.95. It was higher than the previous day’s 7.71% rise. This leading manufacturer of automotive systems and components in China has been showing a rise in its stocks against the expectations of most trade analysts. The list of other top gainers on Friday is largely the same companies who have been showing a rise since past one week. Second place amongst top gainers goes to China Armco Metals (CNAM) which gained 8.30% to end of the day at $5.09, the highest jump for this week. No wonder, the company’s plan to raise $10 million selling stock in private placement will turn out to be good decision.
The third place amongst top gainers on Friday goes to China Advanced Construction Materials (CADC). A leading construction company, the company recorded an asset turnover ratio of 1.19 during the last 12 months. Its stocks showed a jump of 0.16 points, which is 4.52% by the end of the day. The fourth and fifth place goes to Focus Media Holding (FMCN) and Yongye International (YONG) respectively. While Focus Media Holding stocks jumped by 2.84%, Younge International registered a growth of 2.32%.
However, like the whole week, the day was not shining for all. The top loser of the day was Yingli Green Energy Holding (YGE) like other days. The stocks closed at $10.80, registering a fall of 6.17%. It is into designing, manufacturing and installation of Photovolatic products in China. The second biggest loser of the day is another company dealing in photovoltaic cells. Trina Solar (TSL) stocks fell by 5.99%, closing at $21.65. With a decline of 4.86% and closing at $9.60 by the end of the day, L&L International Holdings (LLEN) continues to maintain its third place amongst the biggest daily losers.
Solar Fun Power Holdings (SOLF) too maintains its position and dipped by 4.73% to close the day at $7.65. Not far behind is Suntech power Holdings (STP) which too again featured amongst the losers, going down by 3.82% to close the day at $11.83.
| TOP GAINERS |
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China America Holdings, Inc. (CAAH) |
0.02 |
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0.00 / + 20.00% |
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51job Inc. (JOBS) |
20.44 |
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1.80 / + 9.66% |
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China Marine Food Group Limited (CMFO) |
6.18 |
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0.43 / + 7.48% |
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AgFeed Industries, Inc. (FEED) |
3.71 |
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0.22 / + 6.30% |
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Yanzhou Coal Mining Co. Ltd. (YZC) |
23.86 |
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1.12 / + 4.93% |
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| TOP LOSERS |
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Asia Cork Inc (AKRK) |
0.43 |
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0.10 / - 18.87% |
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Synutra International Inc. (SYUT) |
21.19 |
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2.88 / - 11.97% |
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China Mass Media Corp. (CMM) |
1.93 |
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0.25 / - 11.47% |
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Cninsure Inc. (CISG) |
23.71 |
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2.75 / - 10.39% |
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NF Energy Saving Corp (NFEC) |
3.00 |
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0.30 / - 9.09% |
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Cninsure Inc. (CISG) files 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)]. CNINSURE INC. Files FORM 20-F Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2009.
This annual report on Form 20-F contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements include statements relating to:
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AsiaInfo-Linkage,Inc. (ASIA) files 10-Q - Quarterly report [Sections 13 or 15(d)]. ASIAINFO HOLDINGS, INC. Files FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2010
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X, as promulgated by the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and notes required by US GAAP for completing annual financial statements. However, management believes that the disclosures are adequate to ensure the information presented is not misleading. US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, contingencies and results of operations. While management has based its assumptions and estimates on the facts and circumstances existing as of March 31, 2010, final amounts may differ from these estimates.
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China Security & Surv Techno (CSR) files S-3/A [Amend] - Registration statement under Securities Act of 1933. CHINA SECURITY & SURVEILLANCE TECHNOLOGY, INC. Files FORM S-3 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
We are offering 15,000,000 shares of our common stock. Our common stock is listed on the New York Stock Exchange and NASDAQ Dubai under the symbol “CSR.” On May 6, 2010, the last reported sale price of our common stock on the New York Stock Exchange was $5.07 per share. We have granted an over-allotment option to the underwriters. Under this option, the underwriters may elect to purchase a maximum of 2,250,000 additional shares from us within 30 days following the date of this prospectus to cover over-allotments.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
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China Education Alliance Inc. (CEU) files 8-K - Current report. CHINA EDUCATION ALLIANCE, INC. Files FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
On May 7, 2010, the Company issued a press release annexed hereto as Exhibit 99.1 hereto.
The information in this report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and shall not be incorporated by reference in any registration statement or other document filed under the Securities Act or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filings, except as shall be expressly set forth by specific reference in such a filing.
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China Education Alliance Announces Conference Call to Discuss First Quarter 2010 Financial Results. China Education Alliance Announces Conference Call to Discuss First Quarter 2010 Financial Results
HARBIN, China, May 7 /PRNewswire-Asia-FirstCall/ -- China Education Alliance, Inc. (NYSE: CEU), a China-based education resource and services company, announced today that the company will hold a conference call on May 12, 2010 to discuss financial results for the first quarter ended March 31, 2010. The conference call is scheduled for Wednesday, May 12, 2010 at 10:00 a.m. Eastern Daylight time (7:00 a.m. PDT).
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Top 10 Personal Services Stocks with Highest Upside: BBI, REVU, CEU, CAST, AM, ARCL, SUMR, CPY, TUC, DL. China Telecom Corporation Limited - 2009 Fortune Global 500 Company Snapshot - new market analysis released
This report provides an in-depth company profiles covering China Telecom Corporation Limited ranked 263 in the 2009 Fortune Global 500 list. All data is gathered from primary source. Reports are available in easily accessible PDF format and data is consistently presented. Data is regularly tracked and enhanced to ensure data on these high profile companies is accurate and current. This report is an indispensable tool for investors, researchers and analysts wanting to gather the relevant facts on the major companies in of the world. Research Bank concentrates on a small number of high profile companies using tested and trusted research and editorial methodologies.
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CNinsure to Announce First Quarter 2010 Financial Results and Host Conference Call on May 24, 2010. CNinsure to Announce First Quarter 2010 Financial Results and Host Conference Call on May 24, 2010
GUANGZHOU, China, May 7 /PRNewswire-Asia-FirstCall/ -- CNinsure Inc. (Nasdaq: CISG), a leading independent insurance intermediary company operating in China, today announced that it will release its financial results for the first quarter 2010 after the close of the U.S. financial markets on May 24, 2010.
CNinsure is a leading independent insurance intermediary company operating in China. CNinsure's distribution network reaches many of China's most economically developed regions and affluent cities. The Company distributes a wide variety of property and casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China, and provides insurance claims adjusting as well as other insurance-related services.
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China Security & Surveillance Technology, Inc. Showcases Latest Security Products and Solutions at IFSEC 2010. China Security & Surveillance Technology, Inc. Showcases Latest Security Products and Solutions at IFSEC 2010
SHENZHEN, China, May 7 /PRNewswire-Asia-FirstCall/ -- China Security & Surveillance Technology, Inc. ("CSST" or the "Company") (NYSE: CSR; Nasdaq Dubai: CSR), a leading integrated security and surveillance solution provider in the P.R.C., will showcase its latest security and surveillance products and solutions at stand I20, hall 4 of IFSEC 2010. The show takes place at the National Exhibition Center, Birmingham, United Kingdom on May 10-13, 2010.
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 |  | The China 100 Stock Index closed Friday, May 07, 2010: 878.71 13.69 (1.53 %) |  |  | China America Holdings, Inc. (CAAH) led the Gainers closing 5/7/2010: 0.02 0.00 (20.00 %)
|  |  | Asia Cork Inc (AKRK) was the Index biggest loser closing 5/7/2010: 0.43 0.10 (18.87 %)
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 |  | The China Vesting Large Cap Stock Index (Panda) closed Friday, May 07, 2010: 945.90 3.55 (0.37 %) |  |  | Yanzhou Coal Mining Co. Ltd. (YZC) led the Index closing 5/7/2010: 23.86 1.12 (4.93 %)
|  |  | Mindray Medical International Limited (MR) was the Index biggest loser closing 5/7/2010: 33.98 1.83 (5.11 %)
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 |  | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Friday, May 07, 2010: 873.91 16.16 (1.82 %) |  |  | 51job Inc. (JOBS) led the Index closing 5/7/2010: 20.44 1.80 (9.66 %)
|  |  | Synutra International Inc. (SYUT) was the Index biggest loser closing 5/7/2010: 21.19 2.88 (11.97 %)
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 |  | The China Vesting Undervalued Stock Index (Dragon) closed Friday, May 07, 2010: 815.36 19.91 (2.38 %) |  |  | China America Holdings, Inc. (CAAH) led the Index closing 5/7/2010: 0.02 0.00 (20.00 %)
|  |  | Asia Cork Inc (AKRK) was the Index biggest loser closing 5/7/2010: 0.43 0.10 (18.87 %)
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