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HK, Shanghai depart March 16

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buy_sell_2 March 16, 2012 (Chinavestor) The Hang Seng Index (INDEXHAGNSEG:.HSI) slid on Friday as mining and basic materials fell on growth concerns. Still the index is up 1.1% for the week piggybacking on sound U.S. stock market performance. And while Hong kong lost steam by the end of the week, this is when the Shanghai Compsite Index (SHA:000001) got back its mojo. The gauge for mainland stocks advanced 31.0 points or 1.3% thanks to a strong showing of consumer stocks. Investors turned to the sector in hopes that Chinese policy makers will focus on the domestic economy and a possible stimulus now that Europe, China's largest export market, is in recession.

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Looking at components of key Chinese ETFs, financial stocks did best among components of the iShares FTSE/Xinhua China Index (NYSE:FXI). But China COSCO (HKG:1919), the largest container shipper in the world, fell 2.4% as export outlook to Europe worsened.

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