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Panic is over, Hong Kong stocks rise

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advance7 February 25, 2011 (Chinavestor) The Hang Seng Index (INDEXHANGSENG:.HSI) broke a four day losing streak on Friday trimming losses for the week to 582.87 points. Had it not been for the 411.3 points advance on Friday, the index would have been off by 1,000 points! Western and Asian markets were lifted by falling oil prices as investors realised Libya makes up only 2% of global oil output.

Long traders in Shanghai stepped to the side after two days of gains. The Shanghai Composite Index (SHA:000001) traded sideways for most of the day, ending the week at 2,878.58 points, off 0.04 points for the day.

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The rally was universal in Hong Kong where large caps took advantage of bottom fishers. All but one component of the Xinhua 25 Index rose

Bargain hunters stepped up to the plate for small cap stocks as well as most components of the Guggenheim Small Cap China ETF (NYSE:HAO) advanced.

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Earnings bode well for Chinese ADRs as well after NetEase.com Inc. (NASDAQ:NTES) reported aboveĀ  estimates along with Trina Solar (NYSE:TSL).



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