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China stocks end week higher at the end of July

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advance4 July 30, 2010 (Chinavestor) Chinese stocks trailed U.S. markets lower on Friday in Asia, before the all important GDP reading for the world largest economy. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 64.0 points or 0.3 percent while the Shanghai Composite Index (SHA:000001) shed 10.6 points or 0.4 percent on Friday. Nevertheless both indices are well in the black for the week.

China's second largest airline, China Eastern Airlines (HKG:0670) (NYSE:CEA), continued to shine on a Morgan Stanley upgrade earlier the week and advanced 3.6 percent for the day. Aluminum Corp. of China (HKG:2600) (NYSE:ACH) (SHA:601600) jumped 6.7 percent in Shanghai and 2.4 percent in Hong Kong following resumption of trading. The company entered into an agreement with Rio Tinto (NYSE:RIO) developing a large iron ore mine in Western Africa.  China telecoms found support in Hong Kong for the day; China Unicom (HKG:0762) (NYSE:CHU) rose 2.5 pecent followed by China Telecom (HKG:0728) (NYSE:CHA) with a 1.8 percent advance.

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China Lodging Group, Ltd (NASDAQ:HTHT) reported after the close on Thursday, issuing a bullish revenue guidance and beating estimates. For upcoming earnings, read China stock earnings calendar Aug. 2-6.

If Hong Kong trading or the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as a proxy for Chinese ADRs, China Unicom (NYSE:CHU) and China Telecom (NYSE:CHA) are expected to outperform for the day, not to mention China Eastern Airline (NYSE:CEA) or Guangshen Rail (NYSE:GSH). Aluminum Corp. of China (NYSE:ACH) rose in both major Asian markets, helping to tame the fall of the Shanghai Composite Index (SHA:000001), and is expected to shine on the NYSE as well.

Stock in the danger zone, based on Asian performance, is Yanzhou Coal (NYSE:YZC), China's third largest coal miner.



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