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China stocks sound advance in Asia

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China_3 January 10, 2012 (Chinavestor) China stocks continued to advance in both key Asian markets. The Shanghai Composite Index (SHA:000001) surged 2.6% on top of yesterday's 2.8%. The rally was universal again, each and every among the largest 50 stocks of the index ended the day in the black. China's import growth fell to a two year low in December, underscoring the fact that China's export and import activities are feeling a pinch from a global economic slowdown. But strong money supply data, released a day before, suggests the government is taking measures to counter balance a negative impact of such eventuality. Import data show that China is restocking precious metals, copper and molybdenum. Investors snapped up shares of copper, aluminum and other precious metal companies as a result.

Investors remained cautious in Hong Kong, eyeing data from Alcoa Inc. (NYSE:AA), the first DJIA component to report earnings. Bargain hunting was the central theme in Hong Kong before corporate earnings rolled in. Chinese airliners, steel, auto and other manufacturers advanced the most on valuation. Mainland China stock continued to pull the broad Hang Seng Index (INDEXHANGSENG:.HSI). The Hang Seng China Enterprises Index (INDEXHANGSENG:.HSCEI), measuring the performance of mainland China stocks listed in Hong Kong, continued to outperform the broad index. The rally was universal among China stocks, all but four components of the Xinhua 25 China Index advanced on Tuesday.

China Coal (HKG:1898), Chalco (HKG:2600) and Huaneng Power (HKG:0902) were among the best China stocks in Hong Kong on Tuesday.

Pre_20120110



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