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China shares up in Asia before Chinese New Year

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new_year2 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.

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