Chinese stocks rose Wednesday, as investor sentiment relatively improved ahead of the U.S. Federal Reserve’s decision on interest rates, which could see the first tightening in more than nine years. Oil companies, meanwhile, had a bumper day.
The benchmark Shanghai Composite Index ended the day 0.2% higher at 3,516.18. The Shenzhen Composite Index rose 0.7% to 2,280.11. Shenzhen’s ChiNext index for startups was up 0.6%, while the small and midsize enterprise index improved 0.3%.
As the Chinese government on Tuesday signaled that it would not cut fuel prices for the purpose of environmental protection, oil producers were especially strong on both the Shanghai and Hong Kong markets. In Shanghai, PetroChina and China Petroleum & Chemical (Sinopec) soared 1.1% and 2%, respectively.
Shares of Trina Solar Limited (ADR) (NYSE:TSL) traded up 4.84% during last trading session on a U.S. exchange, closing at $11.04. The company now has a market value of $ 1.02B. The stock, after recent close, is 8.45% above their SMA 50 and -17.18% below the 52-week high. The worst hit in its 52 week range is $7.15 per share, with $13.33 as its 52 week best price. Its latest closing price has a distance of 11.61% from SMA20 and is 2.36% above than SMA200.
Jumei International Holding Ltd (ADR) (NYSE:JMEI) closed U.S. trading at $9.20, down -1.50% from previous close. The year-to-date (YTD) performance reflected a -32.45% below last year. During the past month the stock gains 15.58% ,bringing three-month performance to -9.36% and six-month performance to -62.75% .If we take a look on its volatility, 4.39% was seen in a week and for the month it was 6.06%
Alibaba Group Holding Ltd (NYSE:BABA) settled at $84.63 during New York trading, down – 2.59% from previous close and at a distance of 3.26% from 20-day simple moving average. In the last trading session, the stock’s price moved 6.77% above its 200 day moving average, The stock is currently trading 7.93% above its SMA 50. To measure price-variation, we found this stock’s volatility over a week period was 2.83% and for the month was 2.59%.