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China stocks buoyed by oil and lending data

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advance7 March 14, 2011 (Chinavestor) China stock investors in Asia focused on latest money supply and lending data, lifting key indices on Monday. The Shanghai Composite Index (SHA:000001) rose 5.1 points or 0.2% by the close. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced 96.1 points or 0.4% for the day. Investors were buoyed by falling oil prices and the fact that lending in February grew less than expected. This piece of good news, suggesting that economic measures to reign in growth are working, ruled over Friday's higher than expected CPI numbers.

The rally was led by large caps, boding well for the iShares FTSE/Xinhua 25 China Index (NYSE:FXI), among other ETFs.

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Large caps outperformed smaller counterparts in Hong Kong as components of the Xinhua 25 Index testify. All but 4 out of 25 large stocks advanced in Hong Kong on Monday, suggesting the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) is going to have a sound day on the NYSE on Monday.

The advance of small caps were not universal, stocks that advanced were about the same as those that fell among the 162 members of the Guggenheim Small Cap China ETF (NYSE:HAO).

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Chinese internet stocks gained last week as investors found safety in large, liquid names. Earnings are going to play a major role in determining small cap stock prices for the week.

If components of the Hang Seng Index (INDEXHANGSENG:.HSI)  can serve as proxy ahead of ADR trading, outlook is best for Sinopec Shanghai Petrochemical (NYSE:SHI) and Yanzhou Coal (NYSE:YZC). Despite falling oil prices, China Eastern Airlines (NYSE:CEA) is still looking vulnerable for the short term.



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