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China stocks fell in Asia on July 13

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decline_7 July 13, 2010 (Chinavestor) Shares of Chinese companies dragged both the Hang Seng Index (INDEXHANGSENG:.HSI) and the Shanghai Composite Index (SHA:000001) lower on Tuesday as investors became defensive. The Chinese government issued a harsh reminder that it will enforce the measures aimed at cooling property prices.

Traders in Hong Kong were eying U.S. earnings and were less pessimistic. The Hang Seng Index (INDEXHANGSENG:.HSI) shed a mere 36.4 points or 0.2 percent to 20,431.06 by the end of the day. Chinese airliners continued to shine; Air China (HKG:0753), the country's flagship carrier, rose 3.0 percent while China Eastern Airlines (HKG:0670) (NYSE:CEA), the second largest Chinese carrier, advanced 2.6 percent. The Shanghai based carrier. CEA, reported strong profitability and sweetened outlook for the sector a day earlier.

The Shanghai Composite Index (SHA:000001) fell 40.4 points or 1.7 percent, the most in two weeks, for the day with property developers felling the pinch the most. Poly Real Estate (SHA:600048), the largest Shanghai listed property developer, fell 4.3 percent.

pre_2010713_index

Chinese ADRs got a boost from strong earnings from Alcoa (NYSE:AA), sending index futures higher ahead the opening bell. Expect NYSE listed shares of Chinese airliners to outperform the rest of the market on Tuesday. For a stock specific break down, read today's overbought/oversold report.



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