Nov. 10, 2009 (Chinavestor) China shares rose moderately in Asia on Tuesday following days of strong gains. The Shanghai Composite Index advanced +3.03 points or +0.1% to 3,178.61 points while the Hang Seng Index ended the day +60.61points or +0.27% higher at 22,268.16. Profit taking put pressure on the markets as both the Hang Seng and the Shanghai Composite index are at one month highs.
Property shares were strong in Shanghai just as was Industrial and Commercial Bank of China (SHA:601398) (HKG:1398), the world largest financial institution by market cap. ICBC advanced 1.3% in Shanghai and 0.9% in Hong Kong. Auto shares soared in Hong Kong after China's explosive passenger car sales report for October; Brilliance Auto (HKG:1114) jumped 15.0% on Tuesday.
Shares of Yanzhou Coal (HKG:1171) fell after a strng open, just as major did oil comanies. For a stock specific analysis, please read today's over bought/oversold report.
Three Chinese ADRs are going to report earnings today: JA Solar NASDAQ:JASO), AirMedia Group (NASDAQ:AMCN) and China Digital TV Hold. (NYSE:STV). Index futures point to a slightly lower open, giving no indication for the rest of the day for China ADRs.
Technical condition of China indices and ETFs suggests that the FXI became vulnerable as it ran ahead of the Hang Seng Index. Global Shipping (NYSE:SEA) remains attractive ahead of the bell on Tuesday.