This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sector Snap: Chinese Stocks Slide

NEW YORK (AP) â¿¿ Shares of some Chinese companies trading on U.S. stock exchanges fell Friday after a report showed that China's manufacturing activity was stagnant in September.

HSBC said its purchasing managers index for September was flat at 49.9. Although it was higher than the 49.4 expected, the reading was still below 50, which indicates that activity is contracting. It's the third straight month that the index has been below 50.

"Some analysts have significantly revised down their growth expectations for China, which is starting to spook investors," said analyst Kathleen Brooks.

Chinese stocks also took a hit on Thursday, after news agency Reuters reported that the U.S. Justice Department was reviewing accounting irregularities at U.S.-listed Chinese companies.

In afternoon trading Friday, shares of BNY Mellon China Select ADR â¿¿ an index that tracks Chinese stocks â¿¿ were down nearly 2 percent.

Shares of some individual Chinese companies that trade in the U.S. also fell:

â¿¿ Oil and gas producer China Petroleum & Chemical Corp. fell $1.54 to $96.20.

Social networking company Renren Inc. fell 57 cents, or 9.7 percent, to $5.28.

â¿¿ Trina Solar Ltd. fell 26 cents, or 4.1 percent, to $6.14.

â¿¿ Entertainment media company Shanda Interactive Entertainment Ltd. fell $1.51, or 4.9 percent, to $29.57.

â¿¿ Internet technology Inc. fell 33 cents to $38.63.

â¿¿ Online retailer E-Commerce China Dangdang Inc. fell 16 cents, or 3.1 percent, to $5.08.

â¿¿ Coal producer Yanzhou Coal Mining Co. Ltd. fell $1.15, or 5.1 percent, to $21.60.

Asian stock indexes also fell Friday:

â¿¿ Mainland China's Shanghai Composite Index closed down 0.3 percent.

â¿¿ Hong Kong's Hang Seng fell 2.3 percent.

â¿¿ Japan's Nikkei 225 fell 0.01 percent.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs