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China stocks breathe in Shanghai, climb in HK

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Asia_2 July 27, 2010 (Chinavestor) Every rally comes to an end eventually, as the six day winning streak broke on Tuesday for China stocks in Shanghai. Stocks fell on profit taking, financial and resource players suffering the most. But investors stayed exuberant in Hong Kong ahead of more U.S. earnings and housing data. The Hang Seng Index (INDEXHANGSENG.:HSI) advanced 133.6 points or 0.6 percent to 20,973.39 points by the close. Metal and construction material stocks took the lead; Maashan Iron (HKG:0323) jumped 4.5 percent followed by Angang Steel's (HKG:0347) 2.6 percent advance. Aluminum Corp. of China (HKG:2600) (NYSE:ACH) rose 2.1 percent while her A-shares advanced in Shanghai despite a strong headwind. pre_2010727

VisionChina Media (NASADAQ:VISN) is scheduled to report earnings today after Sohu.com (NASDAQ:SOHU), Changyou.com (NASDAQ:CYOU) and China Security & Surveillance (NYSE:CSR) reported on Monday.

If Hong Kong trading can serve as a proxy, Aluminum Corp. of China (NYSE:ACH) is looking good ahead of the opening bell on Tuesday.



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