February 8, 2012 (Chinavestor) The Shanghai Composite Index (SHA:000001) surged 55.6 points or 2.4% a day before January inflation data will be public. Each and every stock among the 50 largest components of the index advanced, a complete opposite of Tuesday when each and every one of them fell. Stocks advanced in Hong Kong as well evidenced by the 319.3 points or 1.5% advance of the Hang Seng Index (INDEXHANGSENG:.HSI).
China is considering buying European bonds in excess of $100 billion, a sign that world economies are able to solve the sovereign debt problem. Chinese energy stocks soared on the back of the rising retail gasoline prices. Petrochina Co. Ltd. (HKG:0857) advanced 2.2% while Sinopec (HKG:0386), China's largest refiner, rose 1.8%.