February 21, 2014 (Chinavestor) There is one hour left for trading this Friday and before that time is up, here is a quick recap of what was good and bad for China stocks this week. Good news is that overall market sentiment remained solid for the third week. The Dow Jones Industrial Average (INDEXDJX:.DJI) rose 2.02% Friday to Friday and was virtually unchanged for the Tuesday-Friday period. Bad news is that Chinese stocks failed to gain traction and the composite for US listed Chinese stocks actually fell from Tuesday morning.
Stocks responsible for the decline included transportation stocks such as China Eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH), among others. Chinese telecoms fell, too. China Telecom (NYSE:CHA) and China Unicom (NYSE:CHU) shed 2.7% and 3.2%, respectively. China Natural Resources (NASDAQ:CHNR) sank basic materials and Huaneng Power Int. (NYSE:HNP) haunted utilities. Technology stocks were a mixed bag. Baidu Inc. (NASDAQ:BIDU), Sina Corp. (NASDAQ:SOHU), Sina Corp. (NASDAQ:SINA) and Qihoo 360 Technologies (NYSE:QIHU) shined but NetEase Inc. (NASDAQ:NTES) and SMI (NYSE:SMI) weighted down the sector. Financials outperformed thanks to China Life Insurance (NYSE:LFC).