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China stocks trade water in Asia on July 29

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Asia_1 July 29, 2010 (Chinavestor) The wind is gone from the sail of Chinese stocks in Asia as the mediocre performance of the Shanghai Composite Index (SHA:000001) and the Hang Seng Index (INDEXHANGSENG:.HSI) testifies. The Mainland's gauge advanced 14.5 points or 0.5 percent while the city state's index inched 0.01 percent higher.

China Unicom (HKG:0762) (NYSE:CHU) fell for the fifth day in a row in Hong Kong but airliners continued to edge higher following a Morgan Stanley upgrade on Wednesday. China Southern Airlines (HKG:1055) (NYSE:ZNH) advanced 3.6 percent but China Eastern Airlines (HKG:0670) (NYSE:CEA) rose a mere 0.24 percent.

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On the earnings front, China BAK Battery (NASDAQ:CBAK) reported second quarter earnings last night; while revenues increased net loss widened to a staggering $18 million vs. $2.5 million loss three months ago... China Lodging Group (NASDAQ:HTHT) is going to report after the close.



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