Chinese Market Roar!

Encouraged by the more than 300 points gain, China Shanghai Composite Index (SSE) increased almost 5%.

Sharp gain of Chinese stock market also lifted Hong Kong market, which a lot of people treat it as gate way to the less accessible Chinese market. The latest news -- Apple is going to China!

HONG KONG, Nov 14 (Reuters) - Hong Kong blue chips jumped nearly 5 percent on Wednesday, boosted by Wall Street gains, asChina Mobile (NYSE symbol, CHL, 0941.HK: Quote, Profile, Research) surged after the wireless operator said itis talking to Apple Inc (AAPL: Quote, Profile, Research) about offering iPhones to Chinese wireless market.

Hong Kong-listed China plays bolted 6.8 percent, with Sinopec Corp (SHI in US, 0386.HK: Quote, Profile, Research) rallying up to 12 percent on expectations easing
crude prices will widen the refiner's margins.

AAPL jumped more than $5 after the news release. As people worried about over valuation of Chinese stocks, there are some less known chinese ADRs traded in US actually having very attractive fundamentals. For instance, the following Chinese stocks have very low forward PE ratios:

CBAK, CSIQ, ACTS, ASIA, GSOL

JRJC is a little high in PE, but this stock took a hit lately, expect to rebound.

Enjoy,

Market Swimmer