September 13, 2011 (Chinavestor) A public holiday shut down the Hong Kong Stock Exchange on Tuesday. It was a non-trading day, giving U.S. investors little indication about the upcoming trading day. The Shanghai Composite Index (SHA:000001) extended the slide from Monday and fell 26.4 points or 1.1%. The decline was almost universal, stocks that fell outnumbered those that advanced six to one among the largest components of the index. Life insurance, real estate and financials outperformed but industrials, energy and basic materials weighted down the index.
Given that domestic Chinese investors focus on Chinese economic and corporate news, their actions is not a good indicator of what's going to happen with NYSE and NASDAQ listed Chinese stocks. Nevertheless China Life Insurance (SHA:601628) (NYSE:LFC) advanced 0.8%, outperforming the rest of the market.
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