September 29, 2011 (Chinavestor) Typhoon Nesat shut down the financial district in Hong Kong, giving investors no direction to upcoming trading the rest of the world. China stock investors are left with signals from Shanghai, a much less indicative barometer for China ADT trading. The Shanghai Composite Index (SHA:000001) fell 26.7 points or 1.1% on Thursday, hitting a new 14 month lows on economic concern. Poly Real Estate (SHA:600048), the largest Shanghai listed property developer, bounced back 2.4% breaking a five day losing streak. SAIC Motor (SHA:600104), the largest Chinese car manufacturer, advanced 1.7%. But investor mood remained somber as China is facing an export slowdown and additional monetary tightening.
Outlook for Chinese stocks listed in the U.S. is uncertain. German lawmakers have just approved the enlarging of an euro rescue fund, yet major indices in Europe turned south after the news. Unemployment benefits are on the menu today, helping investors sort out latest economic news about the largest economy in the world.
Home Inns & Hotels Management (NASDAQ:HMIN) fell hardest among CHinese ADRs on Wednesday. Internet stocks remain under water after a broad sell-off hurt prominent components of the sector. Bottom fishing : SOHU at 52 week lows