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Asia Stocks: Waiting on the Feds
02/27/08 - 11:23 PM EST
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"We believe investors will be disappointed by the unchanged 2008 guidance and management's evasiveness to questions related to changes in inventory, capex and financing sources for the aggressive expansion plans," said Oppenheimer & Co. analyst Adam Hinckley in a note to clients Tuesday. Shares of LDK fell 8% to $27.77. Recently, Merrill Lynch came out with new ratings on the Chinese oil and natural gas producers. The firm downgraded PetroChina PTR to sell, Sinopec SHI to neutral and maintained its neutral rating on Cnooc CEO. Shares of PTR rose 3% to $154.32, Sinopec advanced 3% to $48.73, and CEO traded up 1.8% to $173.86. Be sure to check out the Far East Portfolio at Stockpickr.com every night to find out which stocks in India and China are making big moves and announcing major news. For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.
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