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Global demand lifts Chinese exports

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economyDec. 11, 2009 (Chinavestor) Chinese customs data suggests November export fell 1.2% from a year earlier, a major improvement from the 13.8% gap in October. Global demand is back on track helping Chinese manufacturers to keep their factories humming. Strong manufacturing data helped lift investors confidence on Friday propelling the Hang Seng Index +202.07 points to 21,902.11 at the close. The index stayed well above the 22,000 benchmark for most of the trading day. Yanzhou Coal (HKG:1171)(NYSE:YZC) and China Southern Airlines (HKG:1055)(NYSE:ZNH) were the best NYSE-HKEx cross-listed blue chips but the strong advance of China's largest coal miner, China Shenhua Energy (HKG:1088), suggest YZC is going to have a strong day on the NYSE today. Todays' strength for ZNH is attributed to a relative weakness in the past month to China Eastern Airliners (NYSE:CEA). 

Index futures suggests a strong open for China ADRs in New York. Momentum stocks will continue to shine but smart invbestors should not miss bottom fishing opportunities either. For a stock specific break down read today's overbought/oversold piece: Export data helps China stocks on Friday.

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The Morgan Stanley China Fund (NYSE:CAF) and the global shipping ETF (NYSE:SEA) has significant upside potential as the following China ETF and index comparison testifies. Nevertheless expect China ETFs to do well on Friday thanks to the strong exports data. The FTSE/Xinhua 25 Index (NYSE:FXI), small cap and real estate ETFs are all expected to do well today.

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