July 14, 2011 (Chinavestor) China stocks took a breather on Thursday after a broad rally a day before. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced 13.3 points or 0.1% while the Shanghai Composite Index (SHA:000001) rose 15.0 points or 0.5%.
Zijin Mining ((HKG:2899) (SHA:601899), the largest gold miner in China, rose the most among large caps in both Asia markets as price of gold soared. Resource plays outperformed in Shanghai after China's latest GDP measure exceeded expectations, highlighting China's insatiable appetite for resources. Jiangxi Copper (SHA:600362) was among the best performing components of the Shanghai Composite Index (SHA:000001)along with Western Mining (SHA:601168) and Jinduicheng Molybdenum (SHA:601958).
Airliners did well in Hong Kong as components of the Xinhua China 25 Index testify. Air China (HKG:0753) was next to Zijin Mining (HKG:2899). Energy stocks did well, too; Petrochina Co Ltd. (HKG:0857) and China Coal (HKG:1898) outperformed the broad market.
Small caps were mxed in Asia as components of the Guggenheim China Small Cap Fund (NYSE:HAO) testify.