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Easing oil lifts stocks in China

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oil_barrel1 February 28, 2012 (Chinavestor) A pull back in oil prices sent stocks higher in Asia. The Hang Seng Index (INDEXHANGSENG:.HSI) advanced 350.9 points or 1.6% while the Shanghai Composite Index (SHA:000001) rose 4.8 points or 0.2%. The rally was universal in Hong Kong where stocks that advanced outnumbered those that fell eight to one among 42 components of the Hang Seng Index (INDEXHANGSENG:.HSI). Oversold Chinese airliners did best, China Southern Airlines (HKG:1055) rose 5.1% while China Eastern Airlines (HKG:0670) advanced over 2%.

While the Shanghai Composite Index (SHA:000001) edged out a small, 4.8 points gain, the index is up over 7 days in a row. Investors bet on local governments easing property curbs with Shanghai in the fore front. The Shanghai Composite Index (SHA:000001) is up 11.5% year-to-date as investors turn increasingly bullish in China.

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