Feb. 12, 2010 (Chinavestor) Shares of Chinese companies advanced in Shanghai on Friday before the Chinese New Year holiday. The Shanghai Composite Index broke through the 3,000 level by advancing +32.63 points or +1.09% to 3,018.13 on Friday. Easing inflation pressures boosted financial stocks while prospects that the recovery will continue helped miners.
The Hang Seng Index slid -22.0 points or -0.11% to 20,268.69 in light trading. Mining companies took the lead among the index components: Zijin Mining (HKG:2899), the largest Chinese gold miner, advanced +2.3% followed by Maanshan Iron and Xinxin Mining. Yanzouh Coal (HKG:1171) was the best performing NYSE-HKEx cross-listed blue chip on Friday.