China Investment Daily Report

Yen finds itself in a weaker position to Dollar



China 100 Stock Index closes 1,002.90, up up +4.31 (0.43%). JA Solar Holdings (JASO) leads Tiger Mid/Small Cap Index up +0.81 (13.26%). China Advanced Construction Materials Group (CADC) was the biggest loser of Tiger Mid/Small Cap Index -0.19 (4.49%).

 
 

Yen finds itself in a weaker position to DollarThe Yen sank to a new 8.5 month low against the dollar on Tuesday in response to robust US data which raised investor expectations of a rise in interest rates this year. The Euro remained at a one year low amidst concern whether the bailout package for Greece will work while the Australian Dollar held firm ahead of an expected rise in interest rates. The US Dollar gained 0.4 percent to 94.98 Yen to stabilize later at 94.90. The reason behind this can be seen in the growth of US manufacturing. This is the first rise in nearly six years since April. There was also an impressive rise in consumer spending which accounts for two-third of US economic activity. The weakness of Yen is also attributed to the low interest rates maintained by Japan which faces a difficult fiscal position as its public debts near 200 percent of its GDP.

Riding on the waves of a global recovery the China 100 Stock Index gained 4.31 points to close the say at 1002.90 which meant a 0.43% increase over its previous closing. The top gainer for the day was JA Solar Holdings (JASO). The stock gained an impressive 13.26% to close the day at $6.92. This was a $0.81 gain over its previous price. The stock has managed to breach the traditional resistance level at $6.7 levels. The market is very bullish on the stock as it is expected to report earnings of $0.18 on sales of $265 million.

Following the footsteps of JASO was China Transinfo Technology (CTFO). The stock posted a handsome return of 7.57% to close the day at $7.53. The stock is facing a resistance at $8.1 in the near term. The company provides real time public transportation information system technology and comprehensive solutions in China. It has also provided information and control system for the world expo in China. The company has been in news recently for launching fleet management service system in Hunan province which is generating a lot of activity in the stock.

China Marine Food Group (CMFO) managed to garner a bronze for the day gaining 6.33% over the course of trading. The stock closed at $6.55 and faces a resistance at $7. The company is a manufacturer of seafood based snack foods and also a distributor of fresh and frozen marine catch. The company is generating a lot of interest with its recent announcement to construct extensive cold storage facility in Shishi fishing port. SORL Auto Parts (SORL) also managed to gain 5.76% to close the day at $11.20. This meant a gain of 5.76%. QKL Stores (QKLS) also provided good return for its investors gaining 4.52% to close the day at $6.01.

While the bulls continued hie charge on the street the bears were also involved in some action. China Advanced Construction Material (CADC) slipped by around 4.49% to close the day at $4.04. The low prices of the company's stock can be attributed to the heavy selling pressure form certain parties mainly the holders of the company's convertible preferred shares. The low trading volume is also a matter of worry as far as the price of the stock is concerned.

China Valves Technology (CVVT) also lost 4.38% to close the day at $10.47. The stock has support level at $9.5 in the short term. Yanzhou Coal Mining (YZC) also suffered looses shedding around 4.27% to close the day at $26.66. China Architectural Engineering (CAEI) also lost 4.20% to close the day at $1.14. Acorn International (ATV) also posted a 3.99% loss to close the day at $4.33. The stock enjoys a support level at around $3.5 in the short term.

TOP GAINERS
JA Solar Holdings Co., Ltd. (JASO) 6.92 0.81 Stock Price Increase 0.81 / + 13.26%
China America Holdings, Inc. (CAAH) 0.03 0.00 Stock Price Increase 0.00 / + 9.09%
China TransInfo Technology Corp. (CTFO) 7.53 0.53 Stock Price Increase 0.53 / + 7.57%
China Marine Food Group Limited (CMFO) 6.55 0.39 Stock Price Increase 0.39 / + 6.33%
SORL Auto Parts, Inc. (SORL) 11.20 0.61 Stock Price Increase 0.61 / + 5.76%
TOP LOSERS
China Advanced Construction Materials Group, Inc. (CADC) 4.04 -0.19 Stock Price Decrease 0.19 / - 4.49%
China Valves Technology, Inc. (CVVT) 10.47 -0.48 Stock Price Decrease 0.48 / - 4.38%
Yanzhou Coal Mining Co. Ltd. (YZC) 26.22 -1.17 Stock Price Decrease 1.17 / - 4.27%
China Architectural Engineering, Inc. (CAEI) 1.14 -0.05 Stock Price Decrease 0.05 / - 4.20%
Acorn International, Inc. (ATV) 4.33 -0.18 Stock Price Decrease 0.18 / - 3.99%

SEC Filings

Monday, May 03, 2010


 

AsiaInfo-Linkage,Inc. (ASIA) files 8-K - Current report. AsiaInfo Holdings, Inc.:On April 29, 2010, AsiaInfo Holdings, Inc. (the “Company”) held a special meeting of its stockholders to consider and vote upon the following matters related to its proposed acquisition (the “Combination”) of Linkage Technologies Investment Limited (“Linkage Technologies”) and its subsidiaries from Linkage Technologies International Holdings (“Linkage Cayman”).

 

China-Biotics, Inc. (CHBT) files POS AM - Post-Effective amendments for registration statement. CHINA-BIOTICS, INC.:We are expanding into the bulk additive business for functional foods through the completion of our 150-ton capacity plant, which commenced production in February 2010. Management estimates that Phase 1 of the project, which involves constructing a facility capable of producing 150 tons of probiotics per annum, will cost $27.50 million. Phase 2 of this project, which commenced in December 2009, is expected to cost $18 million. The construction cost of Phase 1 of the plant is being funded by cash received from the sale of convertible promissory notes to Pope Investments II LLC on December 11, 2007 as disclosed in “Business-History”.

 

China Kangtai Cactus Bio (CKGT) files 8-K - Current report. CHINA KANGTAI CACTUS BIO-TECH, INc.:On April 30, 2010, China Kangtai Cactus bio-Tech, Inc. (the “Company”) entered into a termination agreement (the “Termination Agreement”) with Seaside 88, LP (“Seaside”) pursuant to which the parties agreed to mutually terminate the Common Stock Purchase Agreement, dated November 5, 2009, between the Company and Seaside 88, LP (the “Purchase Agreement”) with no further obligations.

 

JA Solar Holdings Co., Ltd. (JASO) files 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)]. JA Solar Holdings Co., Ltd.: Global solar cells and modules production materially increased in previous years, and is expected to continue to increase. Many competitors or potential competitors, particularly in China, continue to expand their production creating a potential oversupply of solar cells and modules in key markets. Increases in production and industry competition have resulted, and will continue to result, in downward pressure on the price of solar cells and modules, including our products. Such price reductions could continue to have a negative impact on our revenue and earnings.

 

RINO International Corporation (RINO) files 8-K - Current report. RINO International Corporation :The Board of Directors of the Company appointed Ben Wang to serve as the Chief Financial Officer of the Company effective on April 27, 2010. Mr. Wang has no family relationships with any of the executive officers or directors of the Company. There were no arrangements or understandings between Mr. Wang and any other person pursuant to which she was selected as Chief Financial Officer. There have been no related party transactions in the past two years in which the Company or any of its subsidiaries was or is to be a party, in which Mr. Wang had, or will have, a direct or indirect material interest

 

Featured News and Commentary

Monday, May 03, 2010


 

AirMedia Announces Unaudited First Quarter 2010 Financial Results. The ASP of digital frames for the first quarter of 2010 decreased by 31.6% year-over-year and increased by 15.3% quarter-over-quarter to US$2,452. The year-over-year decrease was primarily due to higher discounts offered in the first quarter of 2010 than in the same period one year ago. The quarter-over- quarter increase was primarily due to the increases in the listing prices of digital frames in the Beijing, Shanghai and Guangzhou airports in the first quarter of 2010 and the fourth quarter of 2009, as well as the lower discounts offered across the board.

 

China Pharma Holdings, Inc. to Report First Quarter 2010 Financial Results on May 11, 2010. China Pharma Holdings, Inc. is a specialty pharmaceutical company with rapidly growing profit that develops, manufactures, and markets treatments for a wide range of high incidence and high mortality conditions in China, including cardiovascular, CNS, infectious, and digestive diseases. The Company's cost-effective, high margin business model is driven by market demand and supported by eight scalable GMP-certified product lines covering the major dosage forms.

 

Lihua International to Report First Quarter 2010 Financial Results on Wednesday, May 5, 2010. Lihua International, through its two wholly-owned subsidiaries, Lihua Electron and Lihua Copper, is a leading value-added manufacturer of copper replacement products for China's rapidly growing magnet and fine wire market. Lihua is one of the first vertically integrated companies in China to develop, design, manufacture, market and distribute lower cost, high quality, alternatives to pure copper magnet wire.

 

RINO International Corp. Appoints New Chief Financial Officer and Chief Strategic Officer. RINO International Corporation, through its direct and indirect subsidiaries, including Innomind Group Limited, Rino Investment (Dalian) Co., Ltd. ("Rino Investment") and Rino Investment's wholly owned subsidiary, Dalian Rino Heavy Industries Co., Ltd., together with Dalian Innomind Environment Engineering Co., Ltd., its contractually-controlled affiliate, Dalian RINO Environmental Engineering Science and Technology Co., Ltd. ("Dalian Rino") and Dalian Rino's wholly-owned subsidiaries, Dalian Rino Environmental Engineering Project Design Co., Ltd., Dalian Rino Environmental Construction & Installation Project Co., Ltd. and RINO Technology Corporation, is a leading provider of environmental protection equipment for the iron and steel industry in China.

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China 100 Stock Index
The China 100 Stock Index closed Monday, May 03, 2010:
1,002.35 6.28 Stock Price Increase6.28 (0.63 %)
JA Solar Holdings Co., Ltd. (JASO) led the Gainers closing 5/3/2010:
6.92 0.81 Stock Price Increase0.81 (13.26 %)

China Advanced Construction Materials Group, Inc. (CADC) was the Index biggest loser closing 5/3/2010:
4.04 0.19 Stock Price Decrease0.19 (4.49 %)

 

China Large Cap Stock Index
The China Vesting Large Cap Stock Index (Panda) closed Monday, May 03, 2010:
1,050.05 3.01 Stock Price Increase3.01 (0.29 %)
Baidu, Inc. (BIDU) led the Index closing 5/3/2010:
70.90 2.00 Stock Price Increase2.00 (2.90 %)

Yanzhou Coal Mining Co. Ltd. (YZC) was the Index biggest loser closing 5/3/2010:
26.22 1.17 Stock Price Decrease1.17 (4.27 %)

 

China Mid and Small Cap Stock Index
The China Vesting Small and Mid Cap Stock Index (Tiger) closed Monday, May 03, 2010:
1,014.47 10.38 Stock Price Increase10.38 (1.03 %)
JA Solar Holdings Co., Ltd. (JASO) led the Index closing 5/3/2010:
6.92 0.81 Stock Price Increase0.81 (13.26 %)

China Advanced Construction Materials Group, Inc. (CADC) was the Index biggest loser closing 5/3/2010:
4.04 0.19 Stock Price Decrease0.19 (4.49 %)

 

China Undervalued Stock Index
The China Vesting Undervalued Stock Index (Dragon) closed Monday, May 03, 2010:
927.57 1.96 Stock Price Increase1.96 (0.21 %)
China America Holdings, Inc. (CAAH) led the Index closing 5/3/2010:
0.03 0.00 Stock Price Increase0.00 (9.09 %)

China Valves Technology, Inc. (CVVT) was the Index biggest loser closing 5/3/2010:
10.47 0.48 Stock Price Decrease0.48 (4.38 %)