Chinese ADRs Monthly Update
The first month of 2008 was pretty bad for domestic stocks, but if you look at the performances of the following Chinese ADRs, you may feel better because the Dow *only* lost 4.63% for the month.
Chinese stocks traded on NYSE and DASDAQ continued to struggle as many suffered double-digit loss in January. In fact, of the 83 stocks I tracked, only 9 posted a gain last month, including one (ATA) IPOed on the 28th. Among the worst performers, alternative energy related stocks as a group dropped the most, with Solarfun Power (SOLF) leading the way with more 50% decline.
| Name | Symbol | 01/31/08 Price | January return(%) |
| 3SBio | SSRX | $11.14 | -25.13 |
| 51Job | JOBS | $17.78 | -1.33 |
| Acorn international | ATV | $8.2 | -12.11 |
| Actions Semiconductor | ACTS | $3.3 | -19.12 |
| Agria | GRO | $7.66 | -17.90 |
| AirMedia Group | AMCN | $22.89 | 2.28 |
| Aluminum Corp of China | ACH | $36.18 | -28.55 |
| APT Satellite | ATS | $1.58 | -26.52 |
| ASAT Holdings | ASTT | $0.56 | -20.00 |
| ATA* | ATAI | $9.55 | 0.50 |
| Baidu.com | BIDU | $279.95 | -28.18 |
| China Architectural Engineering | RCH | $6.24 | -27.86 |
| China Digital TV | STV | $22.55 | -16.42 |
| China Eastern Airlines | CEA | $68.01 | -30.36 |
| China Finance Online | JRJC | $17.15 | -22.05 |
| China Grentech | GRRF | $7.12 | -19.46 |
| China Life Insurance | LFC | $55.75 | -27.12 |
| China Medical Tech | CMED | $47.67 | 7.39 |
| China Mobile | CHL | $75.52 | -13.07 |
| China Nepstar | NPD | $11.99 | -31.80 |
| China Petro & Chemical | SNP | $107.63 | -27.38 |
| China Southern Airlines | ZNH | $43.99 | -32.79 |
| China Sunergy | CSUN | $9.34 | -43.46 |
| China Techfaith | CNTF | $4.11 | -29.14 |
| China Telecom | CHA | $71.98 | -7.80 |
| China Netcom | CN | $62.35 | 4.97 |
| China Unicom | CHU | $23.67 | 5.67 |
| ChinaEdu | CEDU | $7.1 | -16.47 |
| City Telecom (HK) | CTEL | $4.51 | -20.18 |
| CNinsure | CISG | $10.74 | -32.83 |
| CNOOC | CEO | $145.29 | -13.22 |
| Ctrip.com | CTRP | $45.66 | -20.55 |
| E-House | EJ | $18.48 | -22.45 |
| eLong | LONG | $7.6 | -8.21 |
| Focus Media | FMCN | $48.05 | -15.42 |
| Fuqi International | FUQI | $8.52 | 2.65 |
| Giant Interactive | GA | $9.94 | -23.42 |
| Global Sources | GSOL | $13.25 | -53.10 |
| Guangshen Railway | GSH | $32.65 | -8.39 |
| Gushan Environmental Energy | GU | $8.61 | -7.91 |
| Home Inns & Hotel | HMIN | $27.99 | -21.42 |
| Huaneng Power | HNP | $32.97 | -20.17 |
| Hurray! | HRAY | $3.42 | -14.07 |
| Hutchison Telecomm | HTX | $21.07 | -6.98 |
| JA Solar | JASO | $50.83 | -27.19 |
| Kongzhong | KONG | $5.1 | -16.26 |
| Las Vegas Sands | LVS | $87.75 | -14.85 |
| LDK Solar | LDK | $35 | -25.55 |
| Linktone | LTON | $3.27 | 5.83 |
| Longtop Financial Tech. | LFT | $18.3 | -22.72 |
| Melco PBL Entertainment | MPEL | $12.1 | 4.67 |
| Mindray Medical | MR | $34.02 | -20.83 |
| Netease.com | NTES | $18.07 | -4.69 |
| New Oriental Education | EDU | $56.7 | -29.64 |
| Ninetowns international | NINE | $2.88 | -9.72 |
| Noah Education | NED | $6.65 | -17.49 |
| O2Micro International | OIIM | $7.97 | -30.94 |
| Perfect World | PWRD | $22.35 | -19.84 |
| PetroChina | PTR | $142.28 | -18.91 |
| QiaoXing Mobile Comm. | QXM | $8.26 | -2.25 |
| Ronesola* | SOL | $12.51 | -3.80 |
| Semiconductor Manufacturing | SMI | $4.15 | -20.04 |
| Shanda Interactive | SNDA | $27.49 | -17.40 |
| Simcere Pharmaceutical | SCR | $11.8 | -14.80 |
| Sina | SINA | $39.7 | -10.38 |
| Sinopec | SHI | $46.01 | -24.65 |
| Sohu.com | SOHU | $46.53 | -14.66 |
| Solarfun Power | SOLF | $16.19 | -50.41 |
| Spreadtrum Communications | SPRD | $9.5 | -22.51 |
| Suntech Power | STP | $54.65 | -33.61 |
| The9 | NCTY | $18.15 | -15.31 |
| Tongjitang Chinese Medicine | TCM | $8.34 | -15.33 |
| Trina Solar | TSL | $34 | -36.80 |
| UTstarcom | UTSI | $2.77 | 1.09 |
| VanceInfo Technologies | VISN | $6.85 | -19.41 |
| Vimicro International | VIMC | $3.59 | -4.52 |
| VisionChina Media | VISN | $6.85 | -19.41 |
| WSP Holdings | WH | $8.12 | -10.77 |
| Wuxi Pharmatech | WX | $25.18 | -13.89 |
| XinHua Finance Media | XFML | $5.07 | -15.50 |
| Xinyuan Real Estate | XIN | $12.95 | -9.00 |
| Yazhou Coal Mining | YZC | $86.07 | -11.32 |
| Yingli Green Energy | YGE | $20.32 | -47.44 |
*2008 IPO
Meanwhile, investors who bought ETFs that invest mainly in China weren’t lucky either. For example, iShares FTSE/Xinhua China 25 Index (FXI) lost 15.29% while PowerShares Gloden Dragon Halter USX China (PGJ) suffered a even greater decline of nearly 20%.
I wonder where the bottom is.
*Photo from TIME
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Not sure about the solar drop lately. Maybe the guys made “paper money” want to lock in their gain (understandable). And the oil drop (from $100) could be another reason.
But on the other hand, I don’t see much quality in the class 2007 of Chinese IPO. Two names are kinda interesting (EJ, WX), but I don’t want to bet on it because they are not my specialty. I bet on LFT and lost all my last year’s gain.
This is somewhat off topic – but looking at that pic, I wonder if American viewers know that in China, Taiwan, and HK, the green and red colors are reversed? In China, red means gains and green signifies loss.
Ray: While what you said is true, if you look a little bit closer at the pic, you will see that the symbols are actually in red color and the prices are in green
I got out of FXI a year ago. The China bubble has burst. But I enjoyed the ride.
I guess Warren Buffett also laughing all the way to the bank. He got out just in time. Now he is buying Brazilian currency