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Cautious optimism lifts China shares in HK, Oct. 26

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advance4 October 26, 2011 (Chinavestor) Cautious optimism about Europe's ability to solve its crisis lifted China stocks in Asia on Wednesday. China stocks led the Hang Seng Index (INDEXHANGSENG:.HSI) 98.3 points or 0.5% higher for the day after a strong manufacturing and export orders data subdued fears of a hard lending. The Hang Seng China Enterprises Index (INDEXHANGSENG:.HSCEI), measuring the performance of mainland Chinese companies listed in Hong Kong, surged 1.92%, over three times that of the broad index. Each and every component of the Xinhua 25 China Index advanced for the day, boding well for the iShares/FTSE Xinhua China 25 Index (NYSE:FXI). China Eastern Airlines (HKG:0670) and Aluminum Corp. of China (HKG:2600) advanced the most among NYSE-HKEx cross listed stocks in Asia.

Low beta, low risk stocks were under performers for the day, suggesting investors in Asia are ready for a market rebound. China Mobile (HKG:0941), the largest mobile operator in China and a low risk stock, rose a mere 0.3% while China Eastern Airlines (HKG:0670) surged 3.9%. For a list of risky and less risky China stock list, read : Low risk stocks in turbulent times

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Going forward, European financial news will drive markets, besides corporate earnings. Investors should embrace a volatile market environment for the rest of the week. If components of the Hang Seng China Enterprises Index (INDEXHANGSENG:.HSCEI) can serve as proxy for ADR trading, outlook is best for Chinese airliners and Aluminum Corp. of China (NYSE:ACH). But telecoms, China Mobile (NYSE:CHL) and China TelecomĀ (NYSE:CHA), may underperform the broad market.



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