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China stocks open last week in Jan. lower

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decline_7 January 24, 2011 (Chinavestor) Renewed inflation fears and uncertain earnings put pressure on Chinese stocks in Asia on Monday. The Hang Seng Index (INDEXHANGSENG:.HSI) shed 75.1 points or 0.3% and the Shanghai Composite Index (SHA:000001) fell 18.6 points or 0.7%. The decline was universal among components of the 42 member Hang Seng Index (INDEXHANGSENG:.HSI). Stocks that fell outnumbered those that advanced four to one. Resource, coal and transportation stocks led the decline in Hong Kong.

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Most large and small cap stocks fell in Asia as components of key ETFs testify. Only two out of the 25 member iShares FTSE/Xinhua 25 China Index (NYSE:FXI) advanced on Monday, pressuring large cap Chinese stocks before the open. Small caps saw a less universal decline; stock that fell outnumbered those that advanced two to one among the 162 components of the Guggenheim Small Cap China ETF (NYSE:HAO).

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If the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as proxy for ADR trading, outlook is dim for large caps ahead the opening bell on Monday. CNOOC Ltd. (NYSE:CEO) and Huaneng Power Int. (NYSE:HNP) managed to stay in the black but Aluminum Corp. of China (NYSE:ACH), Yanzhou Coal (NYSE:YZC) and China Southern Airlines (NYSE:ZNH) are in trouble right at the open on the NYSE today.



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