December 21, 2011 (Chinavestor) China stocks found support in a resurgent DJIA in Hong Kong on Wednesday. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced 336.3 points or 1.8% in a broad rally. Chinese airliners advanced after weeks of heavy selling. China South Airlines (HKG:1055) rose 3.9 while Air China (HKG:0753) snapped back 6.7% after a 1.9% dive a day before.
But investors on the mainland sold off equities after Ping An Insurance (SHA:601318) announced plans to raise RMB26 billion in bond sale to replenish capital. The sell-off was broad in Shanghai, stocks that fell outnumbered those that advanced ten to one.
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