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China stock fell on bank downgrade

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bank_2 December 15, 2011 (Chinavestor) China stock continued to sink following a downgrade of key European banks. The Hang Seng Index (INDEXHANGSENG:.HSI) fell 327.6 points or 1.8% to the 18,000 level in a broad sell-off. Investors worried about China's housing market and weak preliminary manufacturing data showing contraction, sending the Shanghai Composite Index (SHA:000001) to fresh 52 week lows. The index fell 47.6 points or 2.2% on Thursday.

But outlook for U.S. listed Chinese stocks is a lot brighter ahead of key U.S. jobs and housing data.

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