August 23, 2010 (Chinavestor) China stock investors in Asia were looking for direction on Monday, evidenced by the lack of action in Shanghai and Hong Kong. The Shanghai Composite Index (SHA:000001) shed 0.1 percent while the Hang Weng Index (INDEXHANGSENG:.HSI) fell 0.4 percent. Stocks that fell outnumbered those that advanced three to one in Shanghai and four to one in Hong Kong. Warren Buffet backed BYD Company (HKG:1211) fell 3.8 percent after missing earnings estimates. But Gome Electrical (HKG:0493) rose after first half profits surge of 66 percent. Net for China Construction Bank (HKG:0939), the second largest Chinese lender, jumped 20 percent in the second quarter.
More about uopcoming earniungs: China stock earnings calendar August 23-27.
If Hong Kong can serves as a proxy for NYSE listed ADRs, Chinese airliners are going to feel a pinch on Monday. China Eastern Airlines (HKG:0670) (NYSE:CEA) fell 3.3 percent earlier today in Hong Kong, a bad omen for NYSE:CEA. China Southern Airlines (HKG:1055) (NYSE:ZNH) shed half of that. Large cap China Mobile (HKG:0941) (NYSE:CHL) fell 1.0 percent.