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China stocks rally in Asia on FED, earnings

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image_pre_thumb October 13, 2010 (Chinavestor) Shares of Chinese companies advanced in both key Asian markets on Wednesday after the FOMC minutes suggested the FED is ready to pump money into the U.S. economy. Better than expected earnings from Intel (NASDAQ:INTC) and other key players helped raise investor sentiment for the technology sector. Mainland investors continued to snap up oversold real estate stocks after the government hinted its willingness to extend the sale of construction materials to rural areas.

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Index futures point to a higher opening for U.S. equities and Chinese ADRs alike. Hong Kong listed H-shares of China Southern Airlines (NYSE:ZNH) jumped 12.2% while smaller rival China Eastern Airlines (NYSE:CEA) rose 3.7% in Hong Kong. Sinopec (NYSE:SNP) and China Life Insurance (NYSE:LFC) advanced over 3% in Hong Kong earlier today, suggesting a strong market day for both large cap stocks.



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