More huge gains in China-based company shares traded on US exchanges.

Perhaps the most extraordinary in huge China Petroleum (SNP) up 11% to an all-time high of $145.68.

Also on the hit list:

City Telecom HK (CTEL) is up 84% on no visible news to over $10 and an all-time high.

New Dragon Asia (NWD) traded on the AMEX, up 39% to $1.88.

LJ International (JADE) May be deliquent in filings but up 41% to $6.80.

Agrifeed (FEED) is up another 30% to $15.60.

GigaMedia (GIGM) Taiwan-based, upgraded by Bear Stearns, trading up 11% to $20, a 52-week high.

New Oriental Energy (NOEC) is up 12% to over $10, a 52-week high.

Origin Agritech (SEED) is rising 12% to over $14.

JA Solar (JASO) up 9% to $47.

Watch for a correction. It’s on the way.

Douglas A. McIntyre