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China shares end Friday in the red in Asia

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decline_9 May 14, 2010 (Chinavestor) Fears that austerity measures in Europe will slow growth in the region caught up with markets world wide. Shanghai is mulling a property to limit price acceleration, making investors nervous about how much cooling is needed to prevent asset price bubbles.

The Hang Seng Index (INDEXHANGSENG:.HSI) fell -277.0 points or -1.4% to 20,145.43 by the end of the day. The sell-off was universal, stocks that fell outnumbered those that advanced 10:1. Aluminum Corp. of China (HKG:2600) fell the most among the 42 member index following news that the end of discounted power prices for aluminum makers is coming to an end. But construction materials, metals, shipping and energy stock fell as infrastructure development is expected to slow.

 

The Shanghai Composite Index (SHA:000001) fell -13.9 points or -0.5% to 2,696.63 by the end of the day. The index entered a bear market as China is cooling off its economy. But investors, like Mark Mobius, turned bearish on valuation.

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U.S. investors are worried about Europe's slower growth, hampering U.S. exports to the region. Earnings continue to move Chinese ADRs. China Green Agriculture (NYSE:CGA) rose 4.2% on Thursday on outlook. CGA advances on 2010 improved outlook. China TransInfo Technology Group (NASDAQ:CTFO) reported record revenues and reaffirmed outlook - but is trading slightly lower before the bell. More about earnings: China stock earnings calendar, May 10-14, 2010.

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List of key indices, indicators and ETFs from a technical point of view:

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