The Philadelphia Federal Reserve Bank reported its business activity index dropped to 8.0 in June from 21.4 of May. Economists forecast the index would fall to 20.9, based on the results of a Reuters poll, which ranged from 10 to 24. The index, which covers factories in the Mid-Atlantic area, is seen as one of the first monthly indicators of the health of U.S. manufacturing leading up to the national report by the Institute for Supply Management, which is due next on July 1st.
The figures follow a report from the Labor Department today that showed consumer prices fell in May for a second month. The Labor Department also said jobless claims rose by 12,000 to 472,000 last week. Initial claims for jobless benefits rose 12,000 to 472,000 in the week ended June 12.
The China 100 stock index fell 5.48 points while major US stock indices closed with a narrow gain as investors saw how one of the most important indicators of the US economic health dropped, signaling a fading economic recovery. The Panda China Large Cap Stock Index lost 8.63 points or 0.87% to 986.95. The Tiger China Small & Mid Cap Stock Index fell 0.48% to close at 865.19 and the Dragon China Undervalued Stock Index dropped 0.67% to close at 747.33.
China Shandong Industries, Inc. (CSNH) is a producer and global marketer of straw-wicker products, wooden crafts and solid wooden furniture. Its products are sold by well known mass market retailers including Wal-Mart, ABM Group, Argos Limited, IKEA, Zara and others. China Shandong heads the list of today’s gainers closing at 2.75 per share to win 10%. 51job Inc. (JOBS) [22.53, 1.53, +7.29%] is currently above its 50-day moving average of $19.41 and above its 200-day moving average of $17.29
New Energy Systems Group (NEWN) [7.25, 0.35, +5.57%] a vertically integrated original design manufacturer and distributor of lithium and backup power systems, today announced the appointment of Mr. Elan Yaish, CPA as a new, independent member of the company's Board of Directors. Mr. Yaish will serve as the chairman of the Audit Committee. This new appointment increases the number of independent directors to three with the full board now comprised of a total of five members. As a result of this appointment, New Energy's board is now comprised of a majority of independent directors.
Yayi International (YYIN) [1.75, 0.20, -10.26%] the first mover and a leading producer and distributor of premium goat milk formula products for infants, toddlers, young children, and adults in the People’s Republic of China, today announced that it will report financial results for the transition period from November 1, 2009 to March 31, 2010 on June 29, 2010. China TransInfo Technology Corp. (CTFO) a leading provider of intelligent transportation systems for highway and urban transportation management in China, today announced the results of its 2010 Annual Shareholder Meeting held on June 11, 2010 in Beijing, China.
China Telecom (CHA), China's largest fixed-line telecom service provider by user number, will close its IMS [IP Multimedia Subsystem] trial operation soon and start the nationwide IMS procurement in July at the earliest, according to an insider of the carrier. China Telecom chose Jiangsu, Sichuan, Guangdong, Zhejiang and Fujian provinces and Shanghai municipality as the pilot regions of its IMS operation with differentiated focuses, such as the driving force of IMS service and evolution of network integration, which all achieved satisfactory results.
| TOP GAINERS |
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China Shandong Industries, Inc. (CSNH) |
5.50 |
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0.50 / + 10.00% |
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51job Inc. (JOBS) |
22.53 |
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1.53 / + 7.29% |
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Asia Cork Inc (AKRK) |
0.31 |
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0.02 / + 6.90% |
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China Architectural Engineering, Inc. (CAEI) |
0.92 |
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0.05 / + 5.75% |
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New Energy Systems Group (NEWN) |
7.25 |
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0.35 / + 5.07% |
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| TOP LOSERS |
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Yanglin Soybean Inc. (YSYB) |
2.00 |
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0.30 / - 13.04% |
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Yayi International (YYIN) |
1.75 |
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0.20 / - 10.26% |
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China America Holdings, Inc. (CAAH) |
0.01 |
|
0.00 / - 7.14% |
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Acorn International, Inc. (ATV) |
4.13 |
|
0.28 / - 6.35% |
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Yongye International, Inc. (YONG) |
8.09 |
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0.38 / - 4.49% |
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 China Housing and Land Development, Inc. (CHLN) files 8-K - Current report. On June 11, 2010, China Housing & Land Development, Inc. (the “Company”) reached agreements with major investors to retire approximately $10 million USD of non-convertible portion of the 20 million USD 5% Senior Secured Convertible Notes, which were issued to the investors in January 2008. The investors also agreed to exercise all their outstanding warrants associated with the 5% Senior Secured Convertible Notes.
Upon completion of the transaction, the Company will retire up to $10 million USD non-convertible portion of the notes through the issuance of approximately 1.73 million common shares at $ 5.57 per share. The share price of China Housing was US$ 2.31 per share on June 11, 2010. In connection with the 5% Senior Secured Convertible Notes financing in January 2008, investors were granted 1,437,467 five-year warrants with a strike price of $ 6.07 per share. In accordance with the current agreements, the investors will exercise all of their remaining 1.2 million outstanding warrants, with every two warrants to be converted to one common share.
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 Lihua International, Inc. (LIWA) files 8-K - Current report. DANYANG, China, June 15 /PRNewswire-Asia/ -- Lihua International, Inc. (Nasdaq: LIWA) ("Lihua" or the "Company"), a leading Chinese developer, designer, manufacturer, marketer and distributor of low cost, high quality alternatives to pure copper products, such as refined copper products and superfine and magnet wire, including copper clad aluminum ("CCA") wire, today announced the completion of a new 32,000 square-foot warehouse located within its current plant in Danyang. The Company also announced that it is constructing a new 25,000-ton smelter at its existing copper recycling facility, which is expected to come on-line during the second half of 2010.
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 L & L Energy's Third Coal Washing Facility Commences Operations. SEATTLE, June 17 /PRNewswire-FirstCall/ -- L & L Energy, Inc., ("L&L") (Nasdaq:LLEN - News), a U.S.-based company operating coal businesses in China, today announced that its third coal washing facility located at L&L's Ping Yi Coal Mining facility ("Ping Yi") with a 600,000 ton annual capacity is operational.
Ping Yi, a profitable coal mine located in Guizhou Province of China, with annual coal mining capacity of 300,000 tons, has constructed this new 600,000 ton coal washing facility using its own capital. It is expected the new washing facility, at full capacity, would generate approximately $78 million in revenue per year, based on a washed coal price of $130 per ton.
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|  | The China 100 Stock Index closed Thursday, June 17, 2010:
869.29  5.01 (0.57 %) | | | China Shandong Industries, Inc. (CSNH) led the Gainers closing 6/17/2010:
5.50  0.50 (10.00 %)
| | | Yanglin Soybean Inc. (YSYB) was the Index biggest loser closing 6/17/2010:
2.00 0.30 (13.04 %)
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| | The China Vesting Large Cap Stock Index (Panda) closed Thursday, June 17, 2010:
986.73 8.86 (0.89 %) | | | AsiaInfo-Linkage,Inc. (ASIA) led the Index closing 6/17/2010:
23.31 0.26 (1.13 %)
| | | Perfect World Co., Ltd. (PWRD) was the Index biggest loser closing 6/17/2010:
24.49 0.94 (3.70 %)
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| | The China Vesting Small and Mid Cap Stock Index (Tiger) closed Thursday, June 17, 2010:
865.19 4.18 (0.48 %) | | | 51job Inc. (JOBS) led the Index closing 6/17/2010:
22.53 1.53 (7.29 %)
| | | Acorn International, Inc. (ATV) was the Index biggest loser closing 6/17/2010:
4.13 0.28 (6.35 %)
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| | The China Vesting Undervalued Stock Index (Dragon) closed Thursday, June 17, 2010:
750.33 2.44 (0.32 %) | | | China Shandong Industries, Inc. (CSNH) led the Index closing 6/17/2010:
5.50 0.50 (10.00 %)
| | | Yanglin Soybean Inc. (YSYB) was the Index biggest loser closing 6/17/2010:
2.00 0.30 (13.04 %)
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