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China stocks skid in Asia on Tue.

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decline3 April 17, 2012 (Chinavestor) Chinese stocks continued to look for direction in Asia. The Hang Seng index (INDEXHANGSENG:.HSI) skid 48.3 points or 0.2% while the Shanghai Composite (SHA:000001) fell 22.0 points or 0.9%. The decline was universal in Shanghai where only three out of the 50 largest components of the index advanced while 47 fell.

China Eastern Airlines (HKG:0670) fell to six months lows after extending the slide from yesterday. China Southern Airlines (HKG:1055) fell just as much as its smaller rival. Chinese airliners fell on high kerosene prices and slower passenger growth as China's economy is slowing down.

Investors continued to find safety in telecoms. China Unicom (HKG:0762) rose 1.1% after a similar advance on Monday.

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