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China stocks to open slightly lower on Friday

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Stock took a break in Shanghai on Friday following six days of strong gains. The Shanghai Composite Index <.SSEC> edged 0.29% lower to 3,113.92 points, a record week for 2009. stock in Hong Kong shed 82.17 points sending the Hang Seng Index <.HSI> to 17,708.42 points for the week. With index futures pointing to a slightly lower open ahead the bell, expect Chinese ADRs to underperform in the morning.

As we issued a warning in the Overbought/Oversold indicator, China Life (601628.SS: Quote, Profile , Research) (LFC: Quote, Profile , Research) (2628.HK: Quote, Profile , Research) is expected to fall on Friday following a big market day on Thursday.

 

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