May 24, 2011 (Chinavestor) Despite a broad sell-off in the U.S. on Monday, Chinese stocks advanced in Hong Kong. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 19.8 points or 0.1% while the Shanghai Composite Index (SHA:000001) shed 7.0 points or 0.3%. Coal and resource stocks advanced in Asia on Tuesday but airliners and industrials fell.
Small caps enjoyed a healthy rally in Asia as components of the Guggenheim Small Cap ETF (NYSE:HAO) testify. Stocks that advanced outnumbered those that fell two to one among 162 components of the small cap ETF.
But large caps were mixed as components of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) testify.
Earnings continue to move Chinese ADRs for the week. China Sunergy (NASDAQ:CSUN) fell 12.1% after missing estimates and guiding lower. China Fire & Security (NASDAQ:CSFG) jumped 15.6% on news that BAIN Capital is going to take the company private while China Transinfo Tech (NASDAQ:CTFO) jumped 17.8% in heavy volume.