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China stocks mixed in Asia, May 19

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bull_bear3 May 19, 2011 (Chinavestor) Investors followed the direction of U.S. indices in Hong Kong on Thursday, but the Shanghai Composite Index (SHA:000001) fell 13.0 points or 0.5% as inflation fears hurt investor sentiment. The mood was different in Hong Kong where the Hang Seng Index (INDEXHANGSENG:.HSI) advanced 152.2 points or 0.7% in a broad rally. Stocks that advanced outnumbered those that fell two to one among components of the index. This is a positive development for the most liquid Chinese ETF, the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) ahead the opening bell.

Yanzhou Coal Mining (HKG:1171), the fourth largest coal miner, surged 5.0% as price of coal rose. China Shenhua energy (HKG:1088), the largest Chinese coal miner, rose 6.5% in the past three days. But higher energy prices hurt airliners and oil refiners.

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Key Chinese ETFs advanced on Wednesday and are set to continue to show strength on Thursday. Most components of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) advanced in Asia, boding well before the NYSE open. China Unicom (HKG:0762), the second largest Chinese mobile carrier that will sell Blackberry in China, outperformed the rest of the sector. But high oil prices send shares of Air China (HKG:0753) to the bottom among components of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI).

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Earnings will continue to sharpe the Chinese ADR landscape on Thursday. Melco Crown Entertainment (NASDAQ:MPEL), SinoTech Energy Ltd. (NYSE:CTE) and SMIC (NYSE:SMI) are going to report earnings before the opening bell.

If components of the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as proxy for ADR trading, outlook is best for Yanzhou Coal Mining (NYSE:YZC) and China Unicom (NYSE:CHU), but airliners and Sinopec Shanghai Petrochemical (NYSE:SHI) are expected to fall. Large cap proxy iShares FTSE/Xinhua 25 China Index (NYSE:FXI) is looking good just as is the Guggenheim Small Cap China ETF (NYSE:HAO).



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