December 2, 2011 (Chinavestor) China stocks took a breather on Friday after strong gains a day earlier. The Hang Seng Index (INDEXHANGSENG:.HSI) rose 38.1 points or 0.2% while the Shanghai Composite Index (SHA:000001) fell 26.2 points or 1.1%. Investors eyed strong American auto sales for November and key jobs data in Hong Kong, expressing cautious optimism. But investors took remarks from a central bank advisor seriously who said that monetary easing is off for at least 12 months.
China Southern Airlines (HKG:1055) rose the most among HKEx-NYSE cross-listed stocks for the day. China's largest carrier by fleet size was spurred by sound growth data from Sichuan Airlines, its affiliate.
Chinese coal miners took a hit after investors digested latest on-grid and off-grid power regulatory changes. Power generators, Huaneng Power Int. (HKG:0902) and Datang Power (HKG:0991), surged on Friday while coal miners including China Coal (HKG:1898) and Yanzhou Coal (HKG:1171) fell hard.