August 26, 2011 (Chinavestor) There isn't too much to gain from China stock trading in Asia on Friday. Investors are waiting for FED Chairman Mr. Bernanke's speech today. As a result, the Hang Seng Index (INDEXHANGSENG:.HSI) and the Shanghai Composite Index (SHA:000001) were trading in a narrow range. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 169.6 points or 0.9% by the end of the day with two third of its components succumbing to profit taking. The Shanghai Composite shed a mere 3.1 points or 0.1% in a similar fashion.Most components of the DJIA fell a day before as investors await what the FED Chairman can do to shore up the economy. Bank of America (NYSE:BAC) surged 9.4% following news that Warren Buffet will invest $5 billion into the largest American financial institution. But tech stocks suffered after the resignation of Steve Jobs as Apple (NASDAQ:AAPL) CEO.
Chinese ETF fell along the market on Thursday, a move that may get repeated on Friday. Investors don't get much clue from Asia on Friday for both key Asian markets lacked direction. Most components of the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) fell but small caps experiences a less broad sell-off in Asia.
China small caps remained volatile with China Infrastructure Development (NASDAQ:CIIC) taking the lead. This small cap ADR surged over 30% on no particular news. Shanda Games (NASDAQ:GAME) rose 11.0% days after releasing earnings. Lower oil price may help airliners but hurt the energy sector, but that's subject to Ben Bernanke inspired market sentiment.