February, 2012 (Chinavestor) Major world indexes continued 2013 in January where they left off last year. The Shanghai Composite Index (SHA:000001) surged 5.1% in January, more than it advanced for all of 2012. The Hang Seng Index rose 4.7% and is up 25.7% for the last thirteen months. But advances were not limited to Chinese stocks only. The Dow Jones Industrial Average (INDEXDJX:.DJI) surged 5.8% for one month, the most since October 2011. The only disappointing performance came from US listed Chinese stocks where lack of investor confidence held back any significant price increases. We will revisit this issue in the second part of this Newsletter. All told, the China ADR Index, a market cap weighted gauge of Chinese stocks listed on the NYSE and NASDAQ and compiled by Chinavestor, eked out a mere 0.5% gain for January and is now in pair with the Dow Jones Industrial Average (INDEXDJX:.DJI) for the last 13 months.