December 28, 2011 (Chinavestor) China stocks were missing direction on Wednesday in Asia. The Shanghai Composite Index (SHA:000001) rose a mere 3.8 points or 0.2% while the Hang Seng Index (INDEXHANGSENG:.HSI) slipped 110.5 points or 0.6%. Most stocks succumbed to profit taking in Hong Kong where stocks that fell outnumbered those that advanced three to one among 42 components of the Hang Seng Index (INDEXHANGSENG:.HSI). Similarly to the broad index, the composite of mainland China stocks listed in Hong Kong experienced a broad sell-off. Only five out of 25 components of the Xinhua 25 China Index managed to eke out some gains, boding ill for the iShares FTSE/Xinhua China 25 Index (NYSE:FXI).