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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	12/31/2011 3:45:13 PM
	1 Recommendation Read Replies (1) of 8334

U.S.-Listed Stocks End Worst Year Since 2008: China Overnight By Belinda Cao - Dec 30, 2011 Chinese equities (CH55BN) traded in the U.S. posted the first annual decline in three years as the world’s second-largest economy slowed amid Europe’s debt crisis. The Bloomberg China-US 55 Index (CH55BN) of the most-traded Chinese shares in the U.S. slid 8.3 percent this year to 95.85 yesterday in New York. The gauge gained 34 percent in 2010 and 35 percent in 2009. E-Commerce China Dangdang Inc. (DANG) was the worst performer on the measure with an 84 percent decline this year, while solar stocks sank at least 58 percent as the industry struggles with falling prices. Macau casino operator Melco Crown Entertainment Ltd. (MPEL) led gains with a 51 percent jump. China’s economy expanded at the slowest pace in two years, prompting policy makers to cut the amount of cash lenders must set aside as reserves Nov. 25 in a bid to stoke growth. The debt crisis in Europe, China’s biggest overseas market, crimped demand for exports (CNFREXPY), which also rose the least in two years. “2011 was clearly fear dominated,” Jeff Papp, a Lisle, Illinois-based senior analyst at Oberweis Asset Management Inc., which helps invest $700 million in China, said in an interview with Bloomberg Television. The government’s multiple tightening measures since 2010 to tackle inflation “led investors to believe Chinese growth would fall off the cliff.” The Shanghai Composite Index (SHCOMP) lost 22 percent for the year, the biggest slide since 2008 and the worst performance after India among benchmarks in the so-called BRIC nations. The Shanghai measure is trading at an estimated price-earnings ratio of 10.6 times. That compares with 13.5 for Indian stocks, 10 for Brazilian shares and 5 for Russian equities. bloomberg.com

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