Feb. 2, 2010 (Chinavestor) Shares of Chinese companies were looking for direction in Asia on Tuesday. The Hang Seng Index advanced a mere +28.43 points or +0.14% to 20,272.18 points while the Shanghai Composite Index shed -6.65 points or -0.23% to 2,934.71 points at the close. Both the Hang Seng Index and the Shanghai Composite has experienced an eight percent plus correction in January as a reaction to Chinese efforts to cool off the economy. But with valuations at record lows, investors wonder where the market is heading to.
Index futures point to a modestly higher open for the DJIA. Oil is up on stronger economic data as well. On the earnings front we're going to see Ctrip.com (NASDAQ:CTRP), the largest Chinese online travel agency, to report after the close.