Commodities & Metals
Chinese ADRs Take Off (SEED, FEED, CAGC, CAAS)
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Chinese agriculture stocks, as measured by Tickerspy’s Chinese Agriculture Stocks Index (*CHAGR), are up over 6% today. Gains in Chinese agriculture stock were led by crop seed company Origin Agritech Ltd. (NASDAQ: SEED), which rose nearly 10% to $13.44. Gains were also driven by AgFeed Industries Inc. (NASDAQ: FEED) and China Agritech Inc. (NASDAQ: CAGC), which rose 8.1% and 8.9% respectively.
Chinese auto part stocks, as measured by Tickerspy’s Chinse Auto Parts Stocks Index (*CHATP), are are up nearly 7% today. Gains were led by China Automotive Systems Inc. (NASDAQ: CAAS), a company which primarily manufactures steering columns for cars. The stock is up over 12% today, breaking its 52-week high and trading over three times is average volume. The company has received a big boost from recent news that Chinese auto exports posted their first year over year gain in 15 months.
Garrett W. McIntyre
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