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China stocks tumble in Asia on global concerns

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decline_8 June 7, 2010 (Chinavestor) The bloodbath from last Friday continued in Hong Kong on Monday. The Hang Seng Index (INDEXHANGSENG:.HSI) tumbled -401.9 points or -2.1% as Europe's debt crisis, U.S. jobs data and challenges surrounding Chinese bank capital replenishment weighted down on markets. The Shanghai Composite Index (SHA:000001) fell 41.9 points or 1.7% to 2,511.73 on Monday. Despite a broad sell-off, railway companies advanced following news that the country will spend RMB700 billion constructing high speed rails linking the country's major cities. Guangshen Railway (SHA:601333) (NYSE:GSH), a NYSE cross-listed rail company from the Pearl river delta region, rose 1.4% in Shanghai.

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The earnings calendar is light for Chinese ADRs for the week, only China-Biotics (NASDAQ:CHBT) is scheduled to announce a quarterly report the week.

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