Just last week, the Shanghai Index surged 3% after a long, bear-market decline. With the index sitting at multi-year lows, that was the signal many were hoping to see for a possible bottom. Investors in the U.S. are rejoicing as well, running into Chinese ADR's. They are seeing a possible bottom as well.
Baidu.com, Inc. (ADR) (BIDU) hit a low of $85.96 last week. Today it sits at $93.54, +1.79 (1.95%) on the day. SINA Corp. (SINA) and Sohu.com Inc. (SOHU) are both having strong days and moving off recent lows. Even small cap Chinese stocks like China Auto Logistics Inc. (CALI) have seem a dramatic move up recently as growth in China appears to be reemerging.
With better economic data being posted, Chinese stocks may find themselves emerging from a long winter hibernation.
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ADR's Signal Shanghai Bottom: Buy On Pullbacks
Published 12/11/2012, 02:40 PM
Updated 07/09/2023, 06:31 AM
ADR's Signal Shanghai Bottom: Buy On Pullbacks
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