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World markets rally on G-20 optimism

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advance7Nov. 9, 2009 (Chinavestor) World markets remained strong on Monday following an upbeat G-20 meeting. China stocks rose in Shanghai and Hong Kong as well. The Shanghai Composite Index advanced +11.55 points or 0.36% to 3,175.58 at the close. Chinese economic news spurred confidence that China will maintain a healthy growth for the rest of the year and beyond. Car sales remained strong after surpassing the 1 million mark for the first time in August. October vehicle sales reached 1.23 million, a new record for the country. The Statistical Bureau of China will release export data and industrial output for October later this week.

China stocks did well in Hong Kong on Monday. The Hang Seng Composite advanced both sessions ending the day 377.83 points or 1.73% higher for the day. The rally was universal, stocks that advanced outnumbered those that fell eight to one. Chinese airliners led the rally followed by Yanzhou Coal, China Life and Petrochina from the HKEx-NYSE cross-listed China blue chips stock universe.

Index futures point to a higher open for American markets, suggesting a strong open for China ADRs. Expect momentum China stocks to extend rally from last week - read China watch-list for Nov. 9 article for details.

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When it comes to China indices and ETFs, the following two ETF are expected to outperform today: Morgan Stanley China (NYSE:CAF) and the Global Shipping ETF (NYSE:SEA). For a technical reading of these and other indices and ETFs, see chart below.

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