February 28, 2011 (Chinavestor) China stocks shrugged off Libya related news and advanced in Asia on Monday. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced 325.7 points or 1.4% while the Shanghai Composite Index (SHA:000001) rose 26.9 points or 0.9%. The Hang Seng Index is off 1.18% for the month after a 5% drop last week but the Shanghai Composite Index is up 5.5% for the month.
While inflation remains an issue, investors on the mainland picked up stocks on valuation. Chinese financial institutions are expected to report record fourth quarterly numbers but outlook is less transparent due to possible monetary tightening.
Large cap Chinese stocks took the lead in Hong Kong on Monday as components of the 25 industry leaders testify. Each and every component of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) advanced on the last day in February as investors continued bottom fishing. Oversold airliners bounced back along with insurers and resource stocks.
Earnings are going to give a spin to today's China stock trading on the NYSE and the NASDAQ. 51job Inc. (JOBS), Mindray Medical (NYSE:MR), Vanceinfo Technologies (NYSE:VIT) are on the menu among other stock for today. Click here to read the full earnings calendar for the week.