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China stocks end week lower in Asia, March 11

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decline_9 March 11, 2011 (Chinavestor) Steep fall on Thursday sent the S&P500 below its 50DMA for the first time in six month. The DJIA tumbled 228.5 points or 1.9% yesterday. Chinese shares fell in Asia on Friday after a strong earthquake in Japan wrecked markets in the region. China's February inflation and manufacturing activity came out stronger than expected, raising the possibility of further monetary tightening. All told the Shanghai Composite Index (SHA:000001) fell 21.5 points or 0.7% while the Hang Seng Index (INDEXHANGSENG:.HSI) tumbled 365.1 points or 1.6%.

All but five components of Hong Kong's gauge fell in a broad sell-off. Components of the Shanghai Composite Index (SHA:000001) didn't pare better, 45 out of the 50 largest components of the benchmark ended the day in the red.

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Most large cap stock retreated in Hong Kong as components of key Chinese ETFs testify. All but three components of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) fell on Friday as investors trimmed risk over the weekend.

Small caps suffered just as much, stocks that fell outnumbered those that advanced five to one among components of the Guggenheim Small Cap China Fund (NYSE:HAO).

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Earnings continue to move Chinese ADRs. China Lodging Group (NASDAQ:HTHT) rose the most among U.S. listed Chinese stocks on Thursday. But Chinese solar stocks suffered heavily despite sound fundamentals from Suntech Power (NYSE:STP) a day before.

If components of the Hang Seng Index (INDEXHANGSENG:.HSI)  can serve as proxy for ADR trading on Friday, outlook is darkest for Yanzhou Coal Mining (NYSE:YZC) and Sinopec Group (NYSE:SNP).



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