January 27, 2011 (Chinavestor) Chinese equities traded mixed in Asia on Thursday. The Hang Seng Index (INDEXHANGSENG:.HSI) reigned in positive territory for more of the day but profit taking sent it 63.6 points or 0.3% lower by the close. Airliners succumbed to profit taking but industrials and telecoms advanced.
Wednesday was a day for Chinese stocks, measured by the performance of key ETFs. While the DJIA eked out a miniscule 0.1% gain, the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) and the Guggenheim China Small Cap ETF (NYSE:HAO) rose 0.6% and 0.5%, respectively.
Looking at individual components of key ETFs this morning, outlook is good for large cap China stocks going forward. H-shares of China Telecom (NYSE:CHA) and China Unicom (NYSE:CHU) rose 4.4% and 2.9% respectively while China Mobile (NYSE:CHL) advanced 0.9%. Sinopec (NYSE:SNP) contiued to surge just like Aluminum Corp. of China (NYSE:ACH).