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Manufacturing data lift China stocks

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factory_3 May 2, 2012 (Chinavestor) Chinese stocks surged in Shanghai as trading resumed after a three day break. The Shanghai Composite Index (SHA:000001) rose 42.1 points or 1.7% after April manufacturing data picked up slack from previous months.The advance was universal among large caps, all but three out of the 50 largest components of the broad Shanghai Composite Index advanced.

Investors were bullish in Hong Kong as well. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 214.9 points or 1.0% after the DJIA hit a new 4 year high. Airliners continued to advance, led by China Eastern Airlines (HKG:0670). Zijin Mining (HKG:2899) rose 2.8% ending a three day loosing streak. Jiangxi Copper (HKG:0358), China's largest producer of the metal, advanced sharply in both Asian markets as investors bet that demand for the material will rise.

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