Chinese ADRs Monthly Update - March 2008

Posted by Sun on April 2, 2008
Post viewed 513 times, 5 so far today

Another month has passed and there was still no sign of a bottom for Chinese stocks traded on US exchanges. In fact, March was a pretty bad month for Chinese ADRs, with 60 of the 87 stocks I tracked ending the month in the red. Among the losers, China Finance Online (JRJC), which is a component of PowerShares Gloden Dragon Halter USX China (PGJ), saw the steepest decline of 34.50%, followed by Xinyuan Real Estate (XIN)’s 31.79% drop. The biggest winner in March was JA Solar (JASO) which recovered most of its 38% loss in February. Other gainers include China Nepstar (NPD), Gushan Environmental Energy (GU), and Global Sources (GSOL). The picture is even gloomier if you look at these stocks’ YTD returns. Of the 87 stocks, only 5 (GU, VISN, UTSI, LONG, and NTES) are in the positive territory at the end of March.

In March, Hong Kong’s Hang Seng Index (^HSI) lost 1,482.47 points, or 6.09%, and Shanghai Composite Index (^SSEC) declined 875.83 points. That’s more 20% drop in just one month!

Name Symbol 03/31/08
Price		 March
return		 YTD
return
3SBio SSRX 8.74 6.98% -41.26%
51Job JOBS 16.25 -10.47% -9.82%
Acorn international ATV 7.62 -23.03% -18.33%
Actions Semiconductor ACTS 2.9698 -17.50% -27.21%
Agria GRO 8.35 2.45% -10.50%
AirMedia Group AMCN 15.9 -11.37% -28.95%
Aluminum Corp of China ACH 40.43 -16.98% -20.16%
APT Satellite ATS 1.54 -8.88% -28.37%
ASAT Holdings ASTTY 0 0 0
ATA* ATAI 8.86 -13.98% -7.23%
Baidu.com BIDU 239.63 -4.66% -38.52%
China Architectural Engineering RCH 5.45 -6.84% -36.99%
China Digital TV STV 18.73 -14.59% -30.58%
China Eastern Airlines CEA 51.4 -17.81% -47.37%
China Finance Online JRJC 13.9 -34.50% -36.82%
China Grentech GRRF 5.12 -26.12% -42.08%
China Life Insurance LFC 52.06 -10.37% -31.95%
China Medical Tech CMED 41.09 -10.67% -7.43%
China Mobile CHL 75.01 0.52% -13.65%
China Nepstar NPD 13.6 23.52% -22.64%
China Petro & Chemical SNP 85.98 -21.44% -41.98%
China Southern Airlines ZNH 39.65 -20.06% -39.42%
China Sunergy CSUN 7.3 3.54% -55.81%
China Techfaith CNTF 5.48 -7.12% -5.52%
China Telecom CHA 62.83 -14.41% -19.52%
China Netcom CN 57.99 -5.29% -2.37%
China Unicom CHU 21.27 0.19% -5.04%
ChinaEdu CEDU 6.63 -16.08% -22.00%
City Telecom (HK) CTEL 4.48 -7.25% -20.71%
CNinsure CISG 11.53 -9.21% -27.89%
CNOOC CEO 146.79 -11.45% -12.33%
Ctrip.com CTRP 53.02 -12.54% -7.74%
E-House EJ 13.15 -19.13% -44.82%
eLong LONG 8.53 -0.93% 3.02%
Focus Media FMCN 35.15 -30.22% -38.13%
Fuqi International FUQI 7.13 -7.52% -14.10%
Giant Interactive GA 12.65 21.52% -2.54%
Global Sources GSOL 14.85 21.72% -47.43%
Guangshen Railway GSH 26.3 -18.32% -26.21%
Gushan Environmental Energy GU 13.07 22.72% 39.79%
Home Inns & Hotel HMIN 19.69 -27.42% -44.72%
Huaneng Power HNP 30.54 -6.03% -26.05%
Hurray! HRAY 2.76 -17.61% -30.65%
Hutchison Telecomm HTX 21.51 8.36% -5.03%
JA Solar JASO 18.6 30.16% -20.07%
Kongzhong KONG 4.33 -31.70% -28.90%
Las Vegas Sands LVS 73.64 -11.60% -28.54%
LDK Solar LDK 27 -5.53% -42.57%
Linktone LTON 2.7 -21.97% -12.62%
Longtop Financial Tech. LFT 18.88 -2.68% -20.27%
Melco PBL Entertainment MPEL 11.38 -5.99% -1.56%
Mindray Medical MR 28.94 -21.14% -32.65%
Netease.com NTES 19.21 -10.44% 1.32%
New Oriental Education EDU 64.86 4.03% -19.52%
Ninetowns inter NINE 2.34 -13.01% -26.65%
Noah Education* NED 5.56 -8.10% -31.02%
O2Micro International OIIM 7.73 -10.01% -33.02%
Perfect World PWRD 22.71 -15.98% -18.54%
PetroChina PTR 125.31 -14.65% -28.59%
QiaoXing Mobile Comm. QXM 6.01 -13.90% -28.88%
Renesola* SOL 11.36 6.87% -9.19%
Semiconductor Manufacturing SMI 3.51 -13.12% -32.37%
Shanda Interactive SNDA 29.1 -12.03% -12.56%
Simcere Pharmaceutical SCR 10.46 -0.10% -24.48%
Sina SINA 35.25 -14.88% -20.43%
Sinopec SHI 34.99 -24.90% -42.70%
Sohu.com SOHU 45.13 0.11% -17.22%
Solarfun Power SOLF 12.06 3.61% -63.06%
Spreadtrum Communications SPRD 8.7 15.38% -29.04%
Suntech Power STP 40.56 9.12% -50.73%
The9 NCTY 20.5 -4.74% -4.34%
Tongjitang Chinese Medicine TCM 8.22 11.38% -16.55%
Trina Solar TSL 30.74 -3.24% -42.86%
UTstarcom UTSI 2.84 0.71% 3.65%
VanceInfo Technologies VIT 6.08 -25.12% -32.44%
Vimicro International VIMC 2.7496 -15.40% -26.87%
VisionChina Media VISN 11.08 5.83% 30.35%
WSP Holdings WH 6.9 -2.82% -24.18%
Wuxi Pharmatech WX 22.36 -6.83% -23.53%
XinHua Finance Media XFML 3.16 -22.17% -47.33%
Xinyuan Real Estate XIN 8.39 -31.79% -41.04%
Yazhou Coal Mining YZC 71.03 -13.68% -26.82%
Yingli Green Energy YGE 17.1 1.36% -55.77%

*2008 IPO

No new Chinese ADR was offered in March. In stead, one stock, ASAT Holdings, was delisted from the NASDAQ and is currently traded on AMEX under the symbole ASTTY at $0.20 a share.

For widely held EFTs that mainly invest in China, iShares FTSE/Xinhua China 25 Index (FXI) lost $10.09, or 6.95% in March, and PowerShares Gloden Dragon Halter USX China (PGJ) dropped $2.76, or 9.96%.

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