Top China ADR Portal

China ADR stock research

Stocks ease in Asia on economic woes

E-mail Print PDF

economy_5 April 27, 2012 (Chinavestor) Chinese stocks took a dive in late afternoon on Friday as earnings concerns and US, European economic outlook worries choked off earlier optimism. The Hang Seng Index (INDEXHANGSENG:.HSI) and the Shanghai Composite Index (SHA:000001) slipped 0.3%, each. Chinese airliners continued to bounce back after hitting 6 months lows on Monday. China Eastern Airlines (HKG:0670) rose 13.4% in Hong Kong for the week thanks to a five day winning streak. Air China (HKG:0753), the nation's flagship carrier, surged as much as 5.9% on Friday, the most among 42 components of the Hang Seng Index (INDEXHANGSENG:.HSI). Petrochina Co. Ltd. (HKG:0857), the largest oil producer in China, rose 3.0% thanks to a surprisingly solid first quarter report. High oil prices and high oil production helped offset lower refining margins.

Kweichow Moutai (SHA:600519), a Chinese liquor maker, rose 3.6%, the most among the 50 largest Shanghai listed companies, before earnings. Poly Real Estate (SHA:600048), the largest Shanghai listed property developer, advanced as much as 1.6% on speculation that the government easing will help revive the housing market. But gold miner Zijin Mining (HKG:2899) (SHA:601899) fell hard both in Hong Kong and Shanghai as appetite for the precious metal subsided.

For large movers of the Hang Seng Index (INDEXHANGSENG:.HSI) and the Shanghai Composite Index (SHA:000001) scroll down to the chart below.

pre_20120427



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

Online Courses

We train investors and traders, help professionals be more effective in their work. See available courses.

advance_10
Register

Free weekly newsletter

Get hot China stock news every Monday