China NY Stocks on Cusp of Comeback? 中国赴美上市公司股票即将触底反弹？

By newsdoug on June 23, 2011

After months of blood-letting that have seen US-listed China stocks tumble, some more than 50 percent, we’re seeing some very early signs that the sell-off could be near bottom and we could even see some nice rallies for a few of the higher quality players. The most encouraging sign came on Tuesday, when shares of top Web portal Sina (Nasdaq: SINA) shot up 19 percent on daily volume that was about a third higher than its normal level, indicating that someone probably saw a good buying opportunity. Boutique brokerage SIG Susquehana came out with a research note saying it especially liked the prospects for Sina’s wildly popular Twitter-like Weibo service, which Sina cut loose earlier this year in a bid to better monetize the business. (English article; Chinese article) Of course, even with the rally, Sina’s shares are still nearly 40 percent below their 52-week high, so there’s still quite a ways to go to return to previous levels that were probably a bit overvalued. In a much smaller but similar development, real estate services firm E-House (NYSE: EJ) announced that its chairman will spend up to $10 million of his own funds to buy shares of the company’s battered stock, which is down 55 percent from its 52-week high amid very real concerns that China’s real estate market is on the brink of a big correction. (company announcement) E-House, whose new plan followed similar new buybacks detailed earlier this week by Spreadtrum (Nasdaq: SPRD) and Dangdang (NYSE: DANG) (previous post), saw its shares also rally nearly 10 percent after its announcement. It’s probably too early to call the sell-off officially over, but I predict we’ll see a few nice rallies among the better quality China stocks in the next few weeks as people move in to pick up some good bargains.

Bottom line: Quality US-listed China stocks are poised for a rally, as investors hunt for bargains in the battered sector.

赴美上市的中国公司股票近期大跌，部分股票贬值幅度超过一半，但现有初步迹象显示，此轮抛售可能即将到头，少数优质股票甚至会展开不错的反弹。周二出现了最鼓舞人的迹象，新浪网<SINA.O>股票的日成交量大增19%，显示有些人可能看到了买入良机。精品券商SIG Susquehana的研究报告称，它尤其看好新浪微博业务。当然，目前新浪股价仍比其52周高位低近40%，因此，重返此前或估值过高的价位仍需时日。另外，房地产服务商易居中国<EJ.N>宣布，公司董事长将动用最多1,000万美元的自有资金购买本公司股票。因市场担忧中国房地产市场即将经历大规模调整，易居中国的股价已较52周高位下跌55%。本周早些时候，展讯通信<SPRD.O>和当当网<DANG.N> 也宣布了类似回购股票计划的细节。易居中国宣布董事长回购股票计划後，其股价上涨了近10%。现在说市场此轮抛售正式结束还为时过早，但我预计，未来几周，由於投资者乐于逢低承接，一些优质中国股票将有不错涨幅。

一句话：由於投资者寻找低位买入的机会，中国赴美上市的部分优质股票料将反弹。

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