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China stocks down in Asia, Nov. 18

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decline_6 November 18, 2011 (Chinavestor) China stocks ended the third week of November on a low tone as falling property prices and deteriorating European news hurt investment sentiment. This bodes ill for the iShares FTSE/Xinhua China 25 Index (NYSE:FXI), the most liquid Chinese ETF ahead the opening bell. The Shanghai Composite Index (SHA:000001) fell 46.5 points or 1.9% on Friday to end 3.4% lower for the week following fears that a slowing economy will hurt demand. Property prices have started to fall in 33 cities out of 70 the government measures according to the latest statistics, yet it was not enough to prompt monetary easing. The decline was universal on the mainland, all but two stocks among the 50 largest components of the Shanghai Composite Index (SHA:000001) rose.

Similarly to Shanghai, investors were skeptical at the end of the week and sold off Chinese stocks on Friday. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 326.2 points or 1.8% with only two components of the 42 member index ending the day in the black. The Hang Seng China Enterprises Index (INDEXHANGSENG:.HSCEI), measuring the performance of Chinese listings in Hong Kong, fell 2.65% on the same time. Steel, coal, aluminum stocks led the decline along with insurers.

Components of key Chinese ETFs fell hard in Asia this morning. Each and every component of the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) fell with Aluminum Corp. of China (HKG:2600) and Ping An Insurance (HKG:2318) hurting the most. Resource prices are falling as demand is in question following fears of a global slowdown. Chinese telecoms were less hurt as investors find relative safety in domestic, large cap assets.

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