June 6, 2012 (Chinavestor) Chinese stocks continued to recover in Hong Kong but traded water in Shanghai for the second day in row on Wednesday. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 261.4 points or 1.4% on hopes that Europe will be able to contain its debt crisis. Power generators continued a rapid advance, Datang Power (HKG:0991) was the best performing component of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI) for a second day in row. Huadian Power (HKG:1071) and Huaneng Power Int. (HKG:0902) rose sharply as well.
Zijin Mining (HKG:2899) (SHA:601899) was another stock on fire. China's largest gold miner rose for a second day in a row as investors were looking for safety amid global economic worries. Oversold resource stocks recovered some lost ground in Shanghai on Wednesday. Jiangxi Copper (SHA:600362), China's largest producer of the metal, rose 1.0% while Aluminujm Corp. of China (SHA:601600) rose 0.45%.
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