The Shanghai Composite Index <.SSEC>e rose 31.87 points to 3,328.48, another record for 2009. Strong money flows sent large cap stocks higher, but the advance of stocks was universal. Stocks in Hong Kong advanced 569.53 points more then offsetting losses of the previous session. The Hang Seng Index <.HSI> closed 19,817.53, a new high for 2009 tanks to strong earnings and improved outlook.
China ADRs are set to rise in New York. Sinopec Corp (0386.HK)(SNP) (600028.SS:), PetroChina (0857.HK)(PTR)(601857.SS) and CChina Life (601628.SS) (LFC) (2628.HK) are expected to outperform the rest of the NYSE listed China stock universe. Baidu.com Inc. (BIDU) may resume climbing along with Shanda (SNDA), Sina Corp. (SINA) and Sohu (SOHU).