Nov. 5, 2009 (Chinavestor) China stocks continued to advance in Shanghai but traders in Hong Kong decided to pull the plug, sending the Hang Seng index lower. But what is going to move China stock in the U.S. depends on economic data. With index futures pointing to a higher open at the 8:35 reading, expect momentum China stocks keep going while value plays will catch up. For a stock specific report, please read today's overbought/oversold analysis on the site.
Looking at Chinese indices and ETFs, the Morgan Stanley China Fund (NYSE:CAF) has more room to go to catch up with the Shanghai Composite. The global shipping ETF (NYSE:SEA) is another potential winner for today based on the following technical indicator.