March 28, 2014 (Chinavestor) Chinese stocks advanced in Asia on Friday before the opening bell on the NYSE. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 231.0 points or 1.0%. While the advance itself is not that outstanding, the universal rally is. All but seven components of the 50 member Hang Seng Index (INDEXHANGSENG:.HSI) advanced!
This is in a contrast to the Dow Jones Industrial Average (INDEXDJX:.DJI) on Thursday. The Dow ended the day in a red even after making a comeback. The NASDAQ fell as much as 1% by noon before recovering most of the losses.
But the China ADR Index, calculated by Chinavestor, rose 3.2 points or 0.5% thanks to a strong showing by large cap energy firms. CNOOC LTd. (NYSE:CEO) rose $3.3, the most among major NYSE listed Chinese stocks. Sinopec (NYSE:SNP), China's largest oil refiner, followed suit and advanced $1.8 on Thursday. Large cap China Mobile (NYSE:CHL), China Telecom (NYSE:CHA) all advanced despite a negative market sentiment.